bhutaneseboy
trying to be better every day with Binance
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Why Bhutan is selling Bitcoins
In recent times, apart from news of the growing value of Bhutan’s Bitcoin stack, another major point of discussion and news has been Bhutan steadily selling parts of these holdings.
According to Arkham, Bhutan has, since July 2024, sold 2,077 Bitcoins (BTC) worth USD 163 million (mn) which is Nu 13.834 billion (bn).
However, according to several online Crypto news sites, the bulk of the sales have happened between October, November and December 2024 when the price of Bitcoins surged.
Source:The Bhutanese new paper
#bitcion
In recent times, apart from news of the growing value of Bhutan’s Bitcoin stack, another major point of discussion and news has been Bhutan steadily selling parts of these holdings.
According to Arkham, Bhutan has, since July 2024, sold 2,077 Bitcoins (BTC) worth USD 163 million (mn) which is Nu 13.834 billion (bn).
However, according to several online Crypto news sites, the bulk of the sales have happened between October, November and December 2024 when the price of Bitcoins surged.
Source:The Bhutanese new paper
#bitcion
Bhutan cash out second time, 502 bitcoin
Bhutan transferred 502 Bitcoin (BTC), worth around USD 49.42 million, to two cryptocurrency exchange platforms, Binance and Singaporean-based crypto-asset trading firm, QCP Capital, on December 10.
This marks the latest Bitcoin transfer by the government since October this year. Such deposits of cryptocurrency exchanges are often associated with intentions to sell.
Bhutan sent 402 BTC, worth USD 39.56 million, to QCP capital in four separate transfers. Later, 100 coins, worth USD 9.81 million, were transferred to Binance.
Since the Bitcoin price surge in October, Bhutan has moved 1, 696 BTC, valued at USD 139 million. The sales made through Binance and QCP Capital were at an average of USD 81,999 per BTC.
In October, Bhutan transferred 929 BTC, worth USD 66.16 million, to Binance cryptocurrency exchange across two transactions. The price of one BTC was USD 70,000 at that time.
In July, the government-linked wallet deposited 381 BTC worth USD 24.1 million to Kraken cryptocurrency exchange.
Despite the recent sell-offs, Bhutan holds about 11,688 BTC, worth USD 1.15 billion across seven wallets. It represents 27 percent of the country’s USD 2.9 billion GDP and is the fourth-largest government Bitcoin holder globally.
Bhutan built its Bitcoin reserves through mining operations powered by its abundant hydropower unlike other many countries acquiring through criminal asset seizures.
In May 2023, Druk Holding and Investments (DHI) partnered with Bitdeer Technologies Group to launch a USD 500 million fund to boost Bitcoin mining in the country. In April this year, Bhutan announced plans to expand its mining capacity by 500 megawatts by mid-2025, bringing the total capacity to 600 megawatts.
Bhutan’s Bitcoin mining is at the advantage side because the country started mining in the year 2019 when one BTC was trading at USD 5,000.
Apart from Bitcoin, the country also holds 656.039 Ethereum, worth USD 2.53 million. As of yesterday, one Ethereum was equivalent to USD 3, 943.98.
Bhutan’s cryptocurrencies are managed by the investment arm of the government, DHI.
Analysts predict that one BTC could hit USD 200,000 by late 2025.
Source: kuensel
This marks the latest Bitcoin transfer by the government since October this year. Such deposits of cryptocurrency exchanges are often associated with intentions to sell.
Bhutan sent 402 BTC, worth USD 39.56 million, to QCP capital in four separate transfers. Later, 100 coins, worth USD 9.81 million, were transferred to Binance.
Since the Bitcoin price surge in October, Bhutan has moved 1, 696 BTC, valued at USD 139 million. The sales made through Binance and QCP Capital were at an average of USD 81,999 per BTC.
In October, Bhutan transferred 929 BTC, worth USD 66.16 million, to Binance cryptocurrency exchange across two transactions. The price of one BTC was USD 70,000 at that time.
In July, the government-linked wallet deposited 381 BTC worth USD 24.1 million to Kraken cryptocurrency exchange.
Despite the recent sell-offs, Bhutan holds about 11,688 BTC, worth USD 1.15 billion across seven wallets. It represents 27 percent of the country’s USD 2.9 billion GDP and is the fourth-largest government Bitcoin holder globally.
Bhutan built its Bitcoin reserves through mining operations powered by its abundant hydropower unlike other many countries acquiring through criminal asset seizures.
In May 2023, Druk Holding and Investments (DHI) partnered with Bitdeer Technologies Group to launch a USD 500 million fund to boost Bitcoin mining in the country. In April this year, Bhutan announced plans to expand its mining capacity by 500 megawatts by mid-2025, bringing the total capacity to 600 megawatts.
Bhutan’s Bitcoin mining is at the advantage side because the country started mining in the year 2019 when one BTC was trading at USD 5,000.
Apart from Bitcoin, the country also holds 656.039 Ethereum, worth USD 2.53 million. As of yesterday, one Ethereum was equivalent to USD 3, 943.98.
Bhutan’s cryptocurrencies are managed by the investment arm of the government, DHI.
Analysts predict that one BTC could hit USD 200,000 by late 2025.
Source: kuensel
My country Bhutan is holding 13011 #bitcion which is around usd 780 million or more and now we are in fourth position in the world. Bhutan has future, electricity is abundant to do mining. However I am new learning everything all about digital currencies
We have few mining setup and we can have more as given the natural resources availability
Anyone how can really teach me all about future with digital currencies
We have few mining setup and we can have more as given the natural resources availability
Anyone how can really teach me all about future with digital currencies
Bhutan becomes one of the top 5 country to mine cryptocurrency.
$HMSTR time we invested and our data usage is 1000 times higher than Hmstr token price, not at all happy but I have a hope and believe it will perform better
Source @Hamster Kombat Announcements page in Telegram 🛡 PROTECTING THE HAMSTER 🛡
👿 We’ve banned over 2.3 million cheaters — enough to fill the entire city of Rome!
🏴☠️ Wondering how we caught them? Well, here’s an example: One person connected over 400 accounts to a single Binance address, while another invited almost 2,000 "friends," all of whom were flagged by our anti-cheat system.
🤖 We have been analyzing users’ behavior for months before the TGE. We have seen accounts that logged in at the same time each day and were tapping the same exact pixel.
📈 We have taken away 6.8 billion tokens from these cheaters. 50% have been distributed among honest players, another 50% will be burned.
🐹 Cheaters don’t belong in our community. They automate their selling through software to get an advantage over regular players. We care about our players and market participants, especially long-term holders, and want to protect them.
👿 We’ve banned over 2.3 million cheaters — enough to fill the entire city of Rome!
🏴☠️ Wondering how we caught them? Well, here’s an example: One person connected over 400 accounts to a single Binance address, while another invited almost 2,000 "friends," all of whom were flagged by our anti-cheat system.
🤖 We have been analyzing users’ behavior for months before the TGE. We have seen accounts that logged in at the same time each day and were tapping the same exact pixel.
📈 We have taken away 6.8 billion tokens from these cheaters. 50% have been distributed among honest players, another 50% will be burned.
🐹 Cheaters don’t belong in our community. They automate their selling through software to get an advantage over regular players. We care about our players and market participants, especially long-term holders, and want to protect them.
As world gets more into digital currency I am getting little confused, I know I have not yet learn much about digital currencies and about technologies advancements however I am confident my personal data and information are all in air and giving busy work load to scammers
It may fluctuate, however the price will not drop drastically
$BTC the wealth of today's generation is exploring and learning about the Digital currencies. Having positivity and patience in digital coin is investment as our generations life is all on gadget m. Therefore currency like bitcoin is blood in gadget whereby you can use it to buy and sell or to explore the things beyond our reach
Thank you
From Bhutan
We Bhutanese mine #Bitcoin❗
Thank you
From Bhutan
We Bhutanese mine #Bitcoin❗
Hello
Who ever first sees my post gets the rewards
I still with left and right about the Binance
Your help will be greatly appreciated
Your help will be greatly appreciated
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