Bhutan’s Bitcoin Sales
In a significant move, Bhutan sold $42.5 million worth of bitcoin in 2026, as its national holdings dropped 58% from their peak. On March 10, 2026, the country moved 175 BTC, valued at approximately $11.85 million. This sale is part of a broader strategy by Bhutan, which has seen its bitcoin holdings decrease from a peak of around 13,000 BTC in late 2024 to the current level of about 5,400 BTC.
Funding Public Services
Bhutan has utilized the proceeds from its bitcoin sales to fund various public services. According to Arkham Intelligence, the country periodically sells portions of its bitcoin in increments of $5-10 million, with a notably heavy selling period occurring around mid to late September 2025. This strategy allows Bhutan to manage its cryptocurrency assets effectively while addressing domestic financial needs.
South Korea’s Prosecutorial Sales
In a separate but related development, South Korean prosecutors sold 320.88 BTC for $24.1 million in March 2025. This sale was conducted over an 11-day period and involved bitcoins that originated from a phishing attack discovered in August 2024. The entire proceeds, totaling 31.58 billion won (approximately $24.1 million USD), were transferred directly to the national treasury of South Korea.
Mitigating Risks
The approach taken by South Korean authorities reflects a growing trend among institutions to mitigate the price volatility risk inherent in holding cryptocurrencies. By selling these assets in a controlled manner, they aim to stabilize financial outcomes while addressing the legal ramifications of the stolen bitcoins.
Bhutan’s engagement with bitcoin is particularly notable given that the country mined its coins using surplus hydropower, resulting in a cost basis that is effectively zero. This unique position has allowed Bhutan to leverage its bitcoin holdings for economic benefit, even as the market experiences fluctuations.
As both Bhutan and South Korea navigate their respective bitcoin sales, observers are keenly watching how these actions will influence the broader cryptocurrency market. The ongoing sales may set precedents for how nations manage their digital assets, especially in light of the increasing scrutiny on cryptocurrency transactions globally.
Details remain unconfirmed regarding future sales or additional strategies that these countries may employ in the evolving landscape of cryptocurrency finance.