The Country That Slowly Accumulated Massive Bitcoin Without Drawing Attention May Have Sold Some, According to Onchain Data

Bhutan, which has Bitcoin without attracting much attention among countries such as El Salvador, the US, the UK and Germany, may have sold BTC, according to onchain data. According to data shared by OnchainLens, the Bhutanese government sent 255.26 BTC, worth approximately $26 million, to two unrecognized cryptocurrency wallets. Judging by its previous transfers, these funds were likely transferred to cryptocurrency exchange Binance. The Bhutanese government currently holds 11,433 BTC worth approximately $1.16 billion, which the country has accumulated by mining Bitcoin using hydroelectric power made possible by its geography. Related News: Legendary Analyst il Capo Shares His Strategy for When “Big Altcoin Season” Arrives The Bhutanese government then transferred 377.78 BTC to two different addresses within an hour, valued at $38.57 million. With all the latest transfers, Bhutan transferred a total of 633 BTC worth around $64 million to addresses believed to be cryptocurrency exchanges, and currently holds 11,055 BTC worth $1.13 billion. *This is not investment advice. Continue Reading: The Country That Slowly Accumulated Massive Bitcoin Without Drawing Attention May Have Sold Some, According to Onchain Data