Amid the rise in Bitcoin price, the Bhutanese government has made a new cryptocurrency transfer to Binance.
Bitcoin Transfer by Bhutan Government
According to Lookonchain and Arkham data, the Bhutanese government transferred 365 Bitcoins, valued at $33.5 million, to the Binance cryptocurrency exchange. They currently hold a total of 12,000 BTC.
Previous Bitcoin Transactions in Bhutan
Earlier in September, Arkham Intelligence reported that Bhutan held 13,011 Bitcoins worth approximately $780.49 million. At the end of October, the government sold 929 Bitcoins, totaling $66.16 million, through another transaction.
Bhutan's Position in the Bitcoin Market
Data indicates that Bhutan is the fourth-largest government Bitcoin holder. Their holdings have significantly increased in value recently.
Bhutan's actions in the cryptocurrency market continue to draw attention, raising questions about the country's future strategy regarding its Bitcoin reserves.
