Bhutan has strategically deposited 350.74 Bitcoin (BTC), valued at approximately $38.5 million, into the cryptocurrency exchange Binance over a ten-day period. This significant transfer was executed by Druk Holding & Investments (DHI), the sovereign investment arm of the Kingdom of Bhutan, highlighting its role in the nation’s digital asset integration.
This move represents a distinct strategy compared to nations like El Salvador. While El Salvador adopted Bitcoin as legal tender, Bhutan’s approach emphasizes measured, large-scale transactions executed through its state-owned investment entity, rather than immediate official currency status for the cryptocurrency.
The deposit occurred during a period of relative stability and growth in Bitcoin’s price, which has shown a 2.29% increase over 24 hours and a notable 37.56% rise over the past three months. Market observers are closely monitoring Bhutan’s cryptocurrency activities as potential indicators of broader trends in national-level digital asset adoption and strategy.
The transfer underscores Bhutan’s exploration of cryptocurrencies as part of its sovereign investment and long-term economic growth plans, positioning DHI as a key player in its evolving digital economy.