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Bhutan Moves $74M in Bitcoin to Binance as BTC Hits Record Highs

by Dan K
Jul 14, 2025 - 2:53 pm
in Bitcoin, Sticky
Bhutan’s Bitcoin wallet activity spikes as BTC reaches new all-time highs

650 BTC Swapped in 14 Days by Government

The Royal Government of Bhutan, through its sovereign wealth fund branch Druk Holding, has swapped out 650 BTC valued higher than $74 million to cryptocurrency exchange Binance in the past fortnight. The largest single swap on June 30 had 137.24 BTC exchanged when the value of Bitcoin was $107,000, which was equal to $14.7 million.

Blockchain analytics platform Onchain Lens shed light on the latest 99.47 BTC transaction worth $12.05 million at transaction time on Monday. The latest development coincides with Bitcoin reaching an all-time high of over $120,000.

Taking Profits Implies Timing

Bhutan’s latest transfer came just two hours after BTC broke through the $120,000 barrier. The consistent selling action through Binance may imply that the government is taking profits in the context of a bull run.

Bitcoin itself is at $122,300, still on the rise.

Bhutan holds 11,411 BTC (nearly $1.4 billion) and 656 ETH (approximately $2 million) in assets as per Arkham Intelligence. They are part of a larger crypto strategy of King Jigme Khesar Namgyel Wangchuck, which includes hydro-based mining and reserve creation.

Crypto in Bhutan’s Economy

Bhutan keeps on incorporating crypto into its development plans at the national level. It collaborated with Binance in May to support crypto-based payments for tourism purposes. Nonetheless, issues such as unreliable internet infrastructure remain.

Tags: BitcoinRegulation
Dan K

Dan K

Dan K, the chief editor, is a visionary wordsmith, shaping narratives with finesse. His discerning eye for detail creates literary masterpieces.

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