Bhutan has just sold $33.5M worth of Bitcoin at its peak price, this added to the previously sold $66M overall becomes $100M and this is just the data of this month. Well, even after this the country still holds 12,206 BTC, that totals about $1.11B. Bhutan mines bitcoins using its epic hydro power. Their strategic moves are inspiring other nations, with talks of a U.S. “Strategic Bitcoin Reserve” gaining major buzz.
The kingdom of Bhutan has just recently sold about 367 Bitcoin, worth around $33.5 million, through Binance. Arkham Intelligence says that the transfer took place exactly at 12:06 a.m. UTC. Bitcoin’s price was high, above $90,000 at that time. Two weeks earlier Bhutan had sold $66 million worth of Bitcoin, that time it was just $70K which is still lot but after the elections BTC has really surged like never seen before.
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Overall Bhutan still has about 12,206 BTC, considering current price that amounts to about $1.11 billion. These Bitcoins holdings are managed by Druk Holding & Investments. Bhutan seems to sell them strategically so as to make as much profit possible. The recent rally of Bitcoin was the right moment for them to sell out some of the BTC and hence profit is all theirs.
Conclusion
Bhutan’s killing it as the 5th biggest Bitcoin-holding government, leveraging its hydro power energy source instead of seizures to mine BTC. Their high sell-strategy is attracting every major global organizations. Even the US. is thinking of creating a “Strategic Bitcoin Reserve” with recent buzz from Trump and Senator Lummis.
