Bhutan Moves $34M in Bitcoin to Binance Amid Market Speculation

Bhutan has made a significant move in its Bitcoin holdings by transferring 533 BTC worth approximately $34.5 million to Binance, according to Arkham Intelligence data.

The transfer has sparked speculation that the Royal Government of Bhutan could be preparing to sell part of its crypto holdings, although no official statement has been released regarding the purpose of the transfer.

Bhutan's treasury is estimated to hold more than 1750 BTC, giving it a Bitcoin value of over $112.4 million at current prices, making it one of the largest sovereign Bitcoin holders globally.