Bhutan Quietly Sells $59M in Bitcoin as BTC Hits $123K, Still Holds Over $1.4B in Reserves
Main Idea
Bhutan has sold $59.47 million worth of Bitcoin (512.84 BTC) in the past four days as BTC prices surged to $123,000, while still holding 11,411 BTC valued at over $1.4 billion.
Key Points
1. Bhutan sold 512.84 BTC ($59.47 million) in the past four days as Bitcoin prices rose to over $123,000.
2. The country still holds 11,411 BTC, currently valued at over $1.4 billion.
3. The sales were tracked by blockchain platform Lookonchain.
4. Bhutan's Bitcoin holdings come from state-backed mining operations via Druk Holding & Investments (DHI), its sovereign wealth fund.
5. DHI has been involved in crypto-forward infrastructure projects like Gelephu Mindfulness City in partnership with firms such as Bitdeer.
Description
Bhutan is cashing in on crypto, again. The tiny Himalayan nation accelerated sales from its crypto treasury and offloaded over 512.84 bitcoin (BTC), worth $59.47 million, in the past four days, according to blockchain tracking platform Lookonchain, as BTC soared to over $123,000. Bhutan still holds 11,411 BTC even after this round of selling, a stack currently valued at over $1.4 billion, per Lookonchain. Unlike Germany — which sold nearly 50,000 BTC it had earlier seized into a rising market la...
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