IMPORTANT HIGHLIGHTS
- Bhutan moved 512.84 BTC (~$62.6M) to Binance over four days during Bitcoin’s recent surge
- The country has a track record of selling during market highs
- Bhutan still holds 11,411 BTC (~$1.4B) over 40% of its GDP
Bhutan Cashes in as Bitcoin Hits New Highs
Bhutan is making waves in the crypto world again.
Over the last four days, the Royal Government of Bhutan quietly transferred 512.84 BTC worth about $62.6 million to Binance, one of the world’s largest crypto exchanges.
This move wasn’t random. In fact, it happened just as Bitcoin hit new all-time highs, now trading around $122,779.
And if history is any guide, this isn’t the first time the Bhutan Bitcoin Rally picked up steam during a crypto bull run.
If Prices Rise, Bhutan Moves
This pattern is becoming pretty clear. Bhutan tends to move Bitcoin whenever prices spike.
Just two weeks ago, they sent another 137.2 BTC to the same Binance wallet.
Back in March, it was 212 BTC. And last November? As the price of Bitcoin approached $100,000, about $33 million worth of it was transferred.
What does that indicate, then? Most likely, Bhutan is taking advantage of market highs to lock in profits.
It’s a savvy play that many investors can appreciate sell high, hold when low.
Still Sitting on a Billion-Dollar BTC Pile
Even after all these transfers, Bhutan’s crypto stash is far from empty.
According to blockchain analytics from Arkham, the country still holds a whopping 11,411 BTC that’s about $1.4 billion, which is over 40% of the entire country’s GDP.
All this Bitcoin is managed by Druk Holdings & Investments (DHI), Bhutan’s national investment arm.
Think of it as their version of a sovereign wealth fund but with a heavy focus on crypto.
So, Where Did Bhutan Get All This Bitcoin?
Here’s the cool part: Bhutan didn’t just buy Bitcoin on the open market. Instead, it mined most of it.
Thanks to its abundant hydroelectric resources, Bhutan gives powers to large -scale mining operations using clean, renewable energy.
That’s right the country is stacking sats while keeping its carbon footprint low. It’s one of the few nations using green energy to mine Bitcoin at scale.
Why Now? The Market Is Hot
So why did Bhutan move over half a billion dollars’ worth of BTC this past week?
Well, Bitcoin is on fire. Institutional investors are piling in, U.S. crypto laws are starting to look more favorable, and confidence is soaring.
Bitcoin recently surged past $123,000, and Bhutan clearly saw an opportunity.
They’ve done it before and they’ll probably do it again. When prices soar, the Bhutan Bitcoin Rally tends to follow.