Bhutan has just transferred 137 BTC, valued at approximately $14.77 million, to Binance. The himalayan country has over $1.2 billion in digital assets, however, this was their first ever transaction in 7 months. It raised speculations across the crypto community: is Bhutan cashing in profits or setting the stage for something larger.
According to on-chain data, the Royal Government of Bhutan continues to hold 11,924 BTC worth over $1.1 billion. The country’s involvement in crypto assets has been largely under the radar until recent years with reports surfacing in 2023 revealing its sovereign wealth fund, Druk Holdings & Investments (DHI) actively invests in Bitcoin and other digital assets.
