Is Bhutan Selling Bitcoin? $14M Binance Transfer Raises Questions! 🧐💰
🇧🇹 Bhutan recently made headlines with a 137 BTC transfer valued at $14.77M to Binance. This marks the first BTC transaction in 7 months from the Himalayan kingdom, sparking speculation across the crypto community: Is Bhutan cashing in on Bitcoin profits? 🤑
🔍 Key Insights:
Bhutan currently holds 11,924 BTC (~$1.1B) as part of its sovereign wealth fund, Druk Holdings & Investments (DHI), which actively invests in digital assets. 💸
The recent move has raised eyebrows, as Binance transfers often indicate a sale. But, Bhutan's officials have previously shared plans to bring crypto into everyday life. 💡
Bhutan is collaborating with Binance to enable cost-free crypto transactions for over 1,000 merchants across the country. So, this transfer might be part of a bigger vision! 🌐
💹 Bitcoin Price Update:
BTC currently trading at $107,745, showing a slight 5% weekly gain. 📈
Despite the uptick on June 24, Bitcoin has been trading within a $107,750 to $165,000 range. 📊
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