In a significant move, the Bhutanese government transferred approximately $60 million in Bitcoin to Binance on October 29, 2024. This transfer is notable as it marks the first major transaction after a four-month pause, leading to speculation that the government might be taking profits amid rising Bitcoin prices.
Bhutan's Bitcoin holdings, managed by Druk Holdings, amount to over 13,000 BTC, valued at around $758 million, placing it as the fourth-largest government holder of Bitcoin globally. This accumulation primarily stems from the country's unique Bitcoin mining operations, which leverage its abundant hydropower resources. For further details, you can check the full report .
