The Bhutanese government is changing part of Bitcoin (BTC) to hold to another bag.
The crypto de-anonymizing platform Arkham claims that the Bhutanese government recently moved $7 million worth of BTC to a Segregated Witness (SegWit) address.
Arkham he says moving can indicate transfer or sale.
“Bhutan will periodically move small BTC addresses to Segwit, which appears to be separate from its P2SH network.
The crypto intelligence program claims that the Bhutanese government has moved $237.39 million worth of BTC from their wallets to Segwit addresses since the beginning of 2026.
SegWit addresses are created to provide lower fees and better scalability than Bitcoin’s Legacy addresses.
The Bhutanese government currently holds $234.33 million worth of BTC and about $68,000 worth of Ethereum (The price of ETH), at data from Arkham.
The government of Bhutan has been showing interest in the digital economy: As early as 2021, the Royal Monastery Authority (RMA) collaborated with Ripple on a pilot project for a central digital bank (CBDC), and evaluated the potential of CBDCs to improve cross-border payments.
Bitcoin is trading at $77,571 at the time of writing. The top crypto asset by market value has risen more than 1.1% in the last 24 hours.
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