Bhutan Dumps Bitcoin? $173M Sent to Binance in Days
Main Idea
Bhutan has been transferring significant amounts of Bitcoin, with over $170 million moved in recent days, while still holding a substantial reserve of 11K BTC valued at $1.280 billion, maintaining its position as the 5th largest Bitcoin holder globally.
Key Points
1. Recent Bitcoin outflows from Bhutan exceeded $170 million over four days, including transactions of $37,800 and $113.9 million.
2. Druk Holdings still holds over 11K BTC, worth approximately $1.280 billion at current prices.
3. Bhutan remains the 5th largest Bitcoin holder globally, between Ukraine (46,000 BTC) and El Salvador (6,000 BTC).
4. The country has been accumulating Bitcoin since at least 2017, possibly earlier, as part of its economic strategy.
5. Bhutan plans to establish Gelephu Mindfulness City (GMC) with a strategic reserve including BTC, ETH, and BNB to stimulate economic growth.
Description
As the largest cryptocurrency heads into uncharted territory, the South Asian Monarchy seems to be preparing to capitalize on the gains made over the past several days. The country has experienced stable economic growth over the years and has also become one of the few nations to include digital assets in its government holdings. A Series of Transfers The recent outflows were identified by the on-chain analysis firm, Arkham, with the total amount exceeding $170 million and spanning over four day...
Latest News
- BTC Hits New ATH, ETH Pushes Higher as Trump-Putin Meeting Grabs Spotlight: Your Weekly Crypto Recap2025-08-15 13:29:41
- Will Bitcoin’s Next Move Be Explosive? Here’s What the Data Says2025-08-15 12:43:57
- Arthur Hayes on the Move Again: Here’s What He Bought Today2025-08-15 12:26:26
- Has XRP’s Bull Run Just Begun or Is the Top Already In? AI Models Predict 2025 Peak Price2025-08-15 11:31:55
- Ethereum Exit Queue Heating up Again: 808,880 ETH Worth $3.7B Held Up2025-08-15 10:43:15