According to @lookonchain, the Royal Government of Bhutan transferred 419.5 BTC worth $47.23M to a new wallet and still holds 9,232 BTC worth $1.04B. Source: @lookonchain on X, Sep 24, 2025, x.com/lookonchain/status/1970758391472763304 The 419.5 BTC moved equals roughly 4.5% of the reported 9,232 BTC holdings, indicating a sizable on-chain movement by a sovereign holder. Source: @lookonchain on X, Sep 24, 2025, x.com/lookonchain/status/1970758391472763304

According to @lookonchain, wallets attributed to the Royal Government of Bhutan transferred 913 BTC valued at about $107 million to two new addresses on Sept 18, 2025, based on Arkham Intelligence on-chain entity labels for Druk Holding Investments. According to @lookonchain, the tagged entity still holds 9,652 BTC valued at roughly $1.13 billion per Arkham Intelligence data. According to @lookonchain, the movement was to two newly created wallets rather than known exchange deposit addresses, referencing Arkham Intelligence’s entity explorer for Druk Holding Investments.