#BTCSELL

Bhutan Reportedly Preparing to Sell $15 Million in Bitcoin Holdings

Bhutan’s royal government appears ready to sell around $14.77 million worth of Bitcoin after transferring approximately 137.245 BTC to Binance on June 30. This move signals a potential liquidation by the state.

Following this transaction, Bhutan's total Bitcoin reserves now stand at approximately 11,924 BTC — worth nearly $1.28 billion at Bitcoin’s current price of around $107,000. These holdings represent a significant portion of the country’s economy and have primarily been accumulated through state-backed mining operations.

Bhutan, a small Himalayan nation, has emerged as a notable player in the global crypto landscape. Its mining initiatives are led by Druk Holding & Investments in collaboration with Bitdeer Technologies, which aims to expand local mining capacity to 600 megawatts by 2025.

While the recent Binance transfer hints at a possible sell-off, the government has not issued any official statement regarding the reason behind the move. Market observers suggest that large holders like Bhutan may be realizing profits to balance market demand, which could explain why Bitcoin has not reached new highs despite strong institutional buying.