The Royal Government of Bhutan transferred 533 Bitcoin (BTC), valued at $34.5 million, to Binance on June 17. These transfers came from Druk Holding & Investments, Bhutan’s state investment arm, reducing Bhutan’s Bitcoin holdings to 1,749.96 BTC from a peak of 13,000 BTC in October 2024. While such moves may raise concerns about short-term price pressure, the amount is small relative to daily Bitcoin trading volumes, suggesting limited market impact.
However, continued sales could lead investors to question Bhutan’s long-term commitment to Bitcoin as a strategic asset amid a soft market and ETF outflows.
Resource: Pluang
