Is the Bhutan royal family also in a rush to "cash out"?

Another 100 Bitcoin pulled back—are they clearing their positions?
Brothers, this wave of market action has really made many "national teams" unable to sit still! Just now, on-chain data shows that the most laid-back large holder—Bhutan's government—has sold more coins again!

1. Just now! 100 Bitcoins "left home"
This morning, Bhutan's official wallet precisely transferred 100 BTC (worth about $8.1 million) to an exchange for cashing out. The move was smooth, without any hesitation.

2. Crazy "ATM": Are they going to sell out by September?
Don’t underestimate Bhutan, a small country, but in the crypto world, it’s a top "deep water bomb":

Selling speed: Since the beginning of the year, they have cashed out a staggering $230 million.

Countdown: At the current rate of selling $50 million per month, by the end of September, Bhutan’s holdings might be "cleared out."

Remaining stock: On paper, they still have about $252 million worth of Bitcoin.

3. Logical breakdown: Bhutan is making a huge profit!
Many ask, why keep selling? Here’s a clever calculation: If Bhutan liquidates all remaining coins at current market prices, their net profit could reach $767 million! For a national-level financial statement, that’s an incredibly sweet "windfall."
There are usually two reasons for a national team to reduce holdings:

Lock in profits: The gains are so substantial that they convert to fiat currency to fund infrastructure or improve public welfare.

Liquidity management: Taking advantage of the current market depth, they sell in batches to avoid a large-scale dump that could trigger market crashes, like what happened in the U.S. at that time.
Although Bhutan’s "full clearance sale" is still ongoing, it seems more like planned financial cash-out rather than a bearish outlook on the market. Stay calm, believe in your own holdings, and don’t be scared off by the "pocket money" operations of the national team!