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I just read an interesting news about Bhutan and its position with Bitcoin. It turns out that the country has gotten rid of 70% of its BTC reserves over the past year and a half. This is quite an unexpected move, considering Bhutan previously actively developed cryptocurrency mining and positioned itself as a crypto-friendly country.
According to the information, Bhutan not only sold but also seems to have halted its mining activities. It appears to be a complete reversal from its previous strategy. Maybe regulatory pressure or simply deciding to lock in profits at current prices.
It's interesting to consider what this means for other countries that viewed Bitcoin as a strategic asset. If even Bhutan, one of the main supporters, is stepping away from this, it could be a signal for the market. Although, of course, each country has its own reasons for such decisions.