Bhutan Moves $34M in Bitcoin to Binance as Traders Brace for Potential Sale
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5 Articles
Bhutan Sold Almost $1 Billion in Bitcoin in the Past Year
Key Insights: The Bhutan government addressed the move of $34.5 million in BTC to Binance as a sign of another planned sale. The country has sold over 10,000 BTC in the past year, netting almost $1 billion. Bhutan appears to have stopped mining Bitcoin, likely due to the declining profit margins for miners. Bhutan has moved another 533.2 Bitcoin (BTC) worth approximately $34.5 million to Binance, extending a year-long trend of sovereign Bitcoin…
Bhutan Bitcoin Update: Government Moves $34.5 Million
Bhutan transferred 533 BTC valued at $34.5 million to Binance, drawing attention from crypto investors monitoring sovereign Bitcoin activity. Despite reducing its holdings from previous highs, Bhutan remains among the largest state-level Bitcoin holders, with wallet movements continuing to influence market sentiment.
Bhutan Moves $34M in Bitcoin to Binance as Traders Brace for Potential Sale
Key highlights:Bhutan transferred 533 BTC worth approximately $34.5 million to Binance, according to Arkham Intelligence data.The move has fueled speculation that the Royal Government of Bhutan could be preparing another Bitcoin sale.Despite the transfer, Bhutan remains one of the world's largest sovereign Bitcoin holders, with an estimated treasury worth more than $112.4 million.Bhutan sends $34.5 million worth of Bitcoin to BinanceThe Royal Go…
Bhutan Transfers 533 BTC to Binance as State Bitcoin Reserves Decline
Bhutan transferred 533 BTC worth about $34.5 million to Binance. The funds moved through several transactions from a government-linked wallet. Publicly tagged holdings fell to 1,749.96 BTC, valued near $113.7 million. Bhutan has transferred 533 Bitcoin, worth approximately $34.5 million, to Binance, reducing its publicly tracked holdings to below 1,750 BTC. On-chain analytics platform Arkham identified the transactions from a wallet linked to Dr…
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