The Royal Government of Bhutan has transferred a total of 449.3 BTC to Binance in 11 days, equivalent to 50.15 million USD.
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The Royal Government of Bhutan transferred 100 BTC (11.8 million USD) to Binance on July 11.
In 11 days, the total amount of BTC transferred reached 449.3 BTC, worth 50.15 million USD.
How much Bitcoin has the Royal Government of Bhutan sent to Binance?
According to data from Onchain Lens, the Royal Government of Bhutan transferred 100 BTC, equivalent to 11.8 million USD, in just one day on July 11.
This is a significant figure, demonstrating Bhutan's proactive approach in managing cryptocurrency assets, increasing transparency and controlling capital flows in the cryptocurrency market.
In 11 days, what is the total amount of Bitcoin transferred to Binance?
In just 11 days, Bhutan transferred a total of 449.3 BTC, worth 50.15 million USD to Binance, showing increasing concentration and effective cryptocurrency asset management strategy.
This activity reflects the trend of governments in many countries gradually collaborating with reputable exchanges to optimize asset management, enhance liquidity, and facilitate the use of cryptocurrency.
The government of Bhutan is gradually realizing its digital financial strategy by expanding cryptocurrency transactions on reputable platforms.
CEO of Binance, speaking in 2024
Why is Bhutan's Bitcoin transfer to Binance important?
This BTC transfer demonstrates recognition and cooperation between the government and centralized exchanges, playing a role in promoting transparency and safety in cryptocurrency usage.
This also helps to mitigate risks related to cold wallets and enhance control, while supporting the management of large capital with a professional process, representing an ideal model for the application of cryptocurrency in state management.
How does Bhutan's Bitcoin transfer affect the cryptocurrency market?
With a large amount of BTC sent to the exchange, this increases liquidity on Binance, positively affecting both regional and global cryptocurrency markets, while also enhancing trust in transactions on the platform.
According to Onchain data and market reports in 2024, large state BTC transfers often stimulate liquidity and drive the development of a transparent cryptocurrency market.
The government's large BTC transfer is a positive sign for state and exchange cooperation in the context of sustainable cryptocurrency development.
Blockchain expert Amanda Lee, 2024
Frequently Asked Questions
On what date did the government of Bhutan transfer Bitcoin to Binance? On July 11, the government of Bhutan transferred 100 BTC, equivalent to 11.8 million USD, to Binance according to Onchain Lens data. How much BTC did Bhutan transfer in 11 days? Bhutan transferred a total of 449.3 BTC worth approximately 50.15 million USD in 11 days. What does Bhutan's BTC transfer mean for the market? It increases liquidity, enhances asset control, and builds trust in the global cryptocurrency market. What information does Onchain Lens provide about Bhutan's BTC transfer? Onchain Lens provides transparent and accurate cryptocurrency transaction monitoring data, confirming BTC transfers from Bhutan. Does the BTC transfer help the government of Bhutan manage assets more effectively? Yes, using a centralized exchange helps the government clearly control capital flows and enhance asset safety.
Source: https://tintucbitcoin.com/bhutan-chuyen-100-btc-tri-gia-118-trieu-usd-len-binance/
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