Recent Bitcoin Transfers Amid Market Surge
The Royal Government of Bhutan has moved another 365 BTC, valued at $33.3 million, to Binance. This comes after an earlier transfer of $66 million worth of bitcoin to the exchange in October, marking a significant offloading of Bhutan’s crypto reserves during the ongoing market rally. The purpose of these transfers remains speculative, but exchange deposits are often associated with asset sales.Bhutan’s Unique Approach to Bitcoin Accumulation
Unlike other countries, Bhutan’s government has accumulated bitcoin reserves through eco-friendly mining powered by hydroelectricity. With around 12,206 BTC still in its reserves, Bhutan is one of the largest state holders of bitcoin, using it as part of its national investment strategy under Druk Holding & Investments.Positioning Amid Speculation on U.S. Strategy
As BTC prices soar, speculation grows that Bhutan may be capitalizing on high prices before the U.S. begins its own national bitcoin stockpile, as pledged by President-elect Donald Trump. Bhutan’s strategy contrasts with other nations that often acquire bitcoin via seizures.
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