<ul data-eligibleForWebStory="false"><li>The Royal Government of Bhutan transferred 212.31 BTC (over $23 million) to Binance, raising speculation about potential asset offloading during market highs.</li><li>Data from Arkham shows this transfer follows a previous deposit of 136.99 BTC (over $14 million) to the same exchange, suggesting a pattern of activity during price peaks.</li><li>While Bhutan has not publicly explained these moves, analysts interpret large deposits as potential precursors to sales, with the country holding approximately 11,711 BTC (over $1.2 billion).</li><li>Bhutan, the sixth-largest nation-state holder of Bitcoin, has quietly amassed its digital asset portfolio using mining operations powered by hydroelectric energy, aligning with its strategy of leveraging renewable resources for digital innovation.</li></ul>

Bhutan Just Moved $23M in Bitcoin, Is the Country Cashing Out at the Top?

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