Bhutan’s government just made some major crypto move, shifting 751 BTC worth a cool $74M to two different wallets. But don’t get it twisted—this tiny Himalayan kingdom is still sitting on a massive $1.1B Bitcoin stash.
Blockchain sleuths at Arkham spotted two separate transactions. First, 377.77 BTC (~$38M) landed in a mystery wallet. Then, an hour later 373.53 BTC (~$36M) went to another unknown address. No one really knows why Bhutan is moving this much Bitcoin, but their history with crypto suggests something big could be brewing.
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This isn’t Bhutan’s first rodeo, though. Just last week, they sent out 495 ETH to a BitGo wallet—right before ETH dropped from $3,200 to $3,040. And let’s not forget how they moved $40M BTC to QCP Capital in December and $66.5M BTC to Binance in October, right after Bitcoin hit $70K.
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With Bhutan’s secretive mining operations and its reliance on hydropower, it’s clear they’re playing the long game in crypto. But whether they’re selling, reshuffling, or locking things down—these massive BTC transfers always shake up the market.
