Bitcoin news: Bhutan shifts holdings after months of silence as BTC moves to $70,000
Bhutan's government moved over 184 BTC to exchanges and trading firms amid a market downturn and BTC price drop.Summary
The Royal Government of Bhutan has resumed notable bitcoin activity after three months of dormancy, transferring over 184 BTC, valued around $14 million, to trading firms, exchanges like Binance, and new addresses. This movement occurred as Bitcoin fell below $71,000 and broader markets experienced volatility. While the transfers could indicate internal reshuffling or collateral management rather than immediate selling, sending funds to trading venues during a sharp drawdown suggests large holders are increasingly treating Bitcoin as a balance-sheet tool during market stress, rather than just a static reserve asset. Bhutan has been a unique sovereign Bitcoin holder, accumulating crypto through state-backed hydropower mining.
(Source：CoinDesk)