Bhutan Transfers $34.5M in BTC to Binance Amid Market Weakness

The Royal Government of Bhutan has transferred 533 BTC worth $34.5 million to Binance on June 17, as per blockchain data from Arkham Intelligence.

This transaction is part of a larger pattern of gradual reallocation of wallets associated with the state investment manager Druk Holding & Investments.

The funds are presumed to belong to state wallets and are not indicative of a one-time liquidation of holdings, but rather continuous portfolio management.