Bhutan gov’t moves $74M in BTC to Binance as price hits new highs
2025-07-14 09:20:06
Main Idea
The Bhutanese government has transferred $74 million worth of Bitcoin to Binance over two weeks, likely capitalizing on Bitcoin's new all-time high prices, as part of its broader crypto investment strategy.
Key Points
1. Bhutan's government moved 650 Bitcoin (worth $74.24 million) to Binance in multiple transactions over two weeks.
2. The transfers began on June 30 with 137.24 BTC ($14.7 million) and continued with amounts ranging from 2 to 200 BTC.
3. Bhutan holds a significant crypto portfolio, including 11,411 BTC ($1.4 billion) and 656 ETH ($2 million).
4. The government has actively embraced crypto, including hydro-powered Bitcoin mining, as part of its economic development strategy.
5. Bitcoin's price surged to $122,300 during this period, reaching new all-time highs.
Description
Bhutan’s government has moved $74 million in Bitcoin to Binance over two weeks, possibly cashing in as the asset hits new all-time highs.
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