Kingdom of Bhutan just deposited $15 million Bitcoin on Binance; Time to sell?
2025-06-30 17:53:51
Main Idea
Bhutan transferred 137.245 BTC to an exchange, potentially signaling a sale, while maintaining a significant Bitcoin reserve as part of its national strategy.
Key Points
1. Bhutan transferred 137.245 BTC (worth ~$14.77M) to an exchange, possibly indicating plans to sell.
2. The country currently holds 11,924 BTC (~$1.28B), managed by Druk Holding and Investments.
3. Bhutan is among the few nations adopting Bitcoin as legal tender, following a 'no-sell' strategy with periodic buying.
4. The country is developing a crypto-backed tourism payment system with Binance and DK Bank, targeting 1,000 merchants.
5. Bitcoin's price was $107,636 at the time of reporting, with historical resistance near $110,000.
Description
The Kingdom of Bhutan’s Bitcoin ( BTC ) strategy has taken a notable turn with the transfer of part of its holdings to cryptocurrency exchange Binance , suggesting possible plans to sell. Details of the transaction indicate that the country transferred 137.245 BTC, valued at approximately $14.77 million, to the exchange on June 30, according to the latest on-chain data obtained by Finbold from Arkham Intelligence. Kingdom of Bhutan Bitcoin transaction. Source: Arkham The potential for a sale com...
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