🔥🔥🔥The Kingdom of Bhutan transfers 100 $BTC to Binance — alarm signal?

An unexpected move from the government of Bhutan — 100 $BTC worth $11.9M has been sent to the #Binance exchange. Such actions from institutional players always raise questions:

⚫️Potential profit-taking?

⚫️Preparation for conversion or movement of funds?

⚫️Or a precursor to local price pressure?

History has seen cases where similar transfers were accompanied by short-term price declines, especially when it comes to government entities.