The Kingdom of Bhutan transferred another 519.707 BTC worth $36.75 million to external addresses on Wednesday, accelerating a sovereign Bitcoin liquidation that has seen its BTC holdings plummet 66% from late 2024 peaks, Decrypt.com reported. The Royal Government of Bhutan now holds 4,453 BTC worth approximately $315 million, down from nearly 13,000 BTC in late 2024, according to on-chain data. The latest transfer continues a drawdown that began after October 2024, with total year-to-date outflows exceeding $150 million.