Bhutan Government Moves $11.9 Million in BTC to Binance Exchange

Recent on-chain data indicates the Bhutanese government may be continuing its strategy of liquidating Bitcoin holdings. On-chain analytics platform, On-chain Lens, reported a deposit of approximately 100 BTC, valued at $11.9 million, into the Binance exchange from an address suspected to be linked to the Bhutanese government. This transaction fuels speculation that the nation is consistently selling off its BTC reserves. While the exact reasons behind these transactions remain unclear, potential motivations could include diversifying national assets, covering budget deficits, or investing in other sectors of the Bhutanese economy. Further investigation into the Bhutanese government's crypto activities is needed to understand their long-term strategy. ```