The Royal Government of Bhutan moved nearly $65 million worth of bitcoin to exchanges like Binance, indicating a potential sale that may impact market prices.
With its vast bitcoin holdings amounting to over $900 million, Bhutan has emerged as a cryptocurrency whale, having acquired its assets through state-run mining operations.
As Bhutan aims to diversify its revenue, its bitcoin investment strategy is part of a broader plan linked to Druk Holdings' expansion of mining operations.
The recent activity in Druk wallets, including both deposits and withdrawals, suggests Bhutan's continuing engagement with the cryptocurrency market.
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