🚨 Breaking News: Bhutan Unloads 929 BTC Amid Bitcoin Pump 🚨
The Bhutanese government, via its state investment arm Druk Holdings, has initiated a significant Bitcoin sale. Approximately 929 BTC (~$66 million) has been transferred to Binance, signaling a likely liquidation amidst the ongoing market rally. This move has sparked speculation that Bhutan is capitalizing on the bullish momentum to offload part of its holdings.
Bhutan’s crypto strategy has been under the radar, with 12,456 BTC (valued at around $887 million) amassed primarily from mining operations using the country’s hydroelectric resources. This transfer to Binance suggests that more sales may follow, potentially impacting market sentiment if Bhutan continues to liquidate further holdings from its substantial Bitcoin reserves.
Traders are closely monitoring Binance and blockchain activity to gauge any additional large movements, as this sale could trigger increased volatility in the market. Keep an eye on these developments, as more government-level Bitcoin transfers could affect Bitcoin’s short-term trajectory. DYOR.
