The Royal Government of Bhutan moved 929 BTC, valued at approximately $66 million, to a Binance deposit address. This is Bhutan’s first Bitcoin transfer to an exchange since July and has drawn attention due to its sizable holdings.
Transaction Details and Significance
The government initially transferred 100 BTC followed by an additional 839 BTC, as tracked by Arkham Analytics. While the exact reason remains unknown, such transactions are often associated with potential sales of the assets.Bhutan’s Bitcoin Mining Initiative
Bhutan holds one of the largest national Bitcoin reserves, mainly built through mining powered by the country’s hydroelectric resources. This latest transfer underlines Bhutan’s strategic approach to cryptocurrency, positioning it among the top national Bitcoin holders worldwide.
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