On-chain data indicate that Bhutan has disposed of approximately $37 million worth of bitcoin, with the pace of liquidation accelerating in the latest period. The figures are drawn from blockchain analytics rather than official disclosures. The available data provide limited insight into motives or the total size of holdings being liquidated.
Analysts caution that on-chain signals alone cannot confirm policy intent. Disposals of this scale can reflect portfolio rebalancing or reserve management, though the exact rationale remains unclear without corroboration. Market observers will monitor further on-chain movements and any government disclosures for clarity.
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