Quiet selling… but it’s been going on for a while now👍 So yeah--the Royal Government of #Bhutan just moved out another 319.7 Bitcoin...about $22.6M, around 3 hours ago. On its own... Not huge. But when you dig out a bit… it tells a bigger story. Since late Oct 2024, their holdings have gone from roughly 13,000 BTC down to about 3,954 $BTC . That’s over 9,000 BTC sold--around $640M in total. And the way it’s happening is what stands out. Not one big exit, not panic… just steady, repeated transfers over time. Bit by bit, trimming down the stack. They’re still holding a decent chunk, so it’s not like they’re fully out. But yeah ... this is a clear downtrend in holdings, not just random movement. Feels more like a strategy than a reaction. Slow distribution, low noise… and most people only notice when you put all the pieces together.