Bhutan has transferred 517 Bitcoin (BTC), valued at approximately $59.23 million, to a wallet linked to cryptocurrency exchange Binance.
This transaction reflects the Himalayan nation’s ongoing strategy to leverage blockchain technology for economic diversification and asset management.
Analysts indicate this represents a portfolio rebalancing move rather than a liquidation, as Bhutan’s total Bitcoin reserves remain substantial at nearly 10,769 BTC.
The country utilizes its abundant hydropower resources for sustainable cryptocurrency operations, positioning itself as a forward-thinking model in national digital asset management.
Market specialists anticipate no immediate impact on Bitcoin’s price from this transaction.
However, they note such state-level asset movements could gradually influence long-term liquidity dynamics and trading patterns within cryptocurrency markets.