Bhutan’s government recently made headlines by selling off a significant chunk of its Bitcoin holdings. Over just four days (July 10th-14th), they unloaded about $60 million worth of BTC.
A Strategic Move?
This wasn’t a complete crypto exit. Data shows they moved 512.84 BTC in six separate transactions to Binance. One transfer alone was a whopping 208.56 BTC (around $23 million!). The timing suggests they cashed in during a Bitcoin price surge, taking profits while the market was hot.
Still Holding Big
Despite the sale, Bhutan still holds a massive amount of Bitcoin – a cool 11,411 BTC, worth roughly $1.4 billion! In fact, their overall crypto portfolio actually increased in value during this period, thanks to the Bitcoin price jump. This shows they’re actively managing their investments.
Ethereum Holdings Steady
Their Ethereum holdings remained unchanged at 656 ETH (about $1.93 million). However, the price increase of ETH boosted the value of this holding.
A Look Back
Even before this recent sale, Bhutan was actively managing its crypto assets. They made smaller transfers earlier in July, showing a clear strategy of adjusting their holdings based on market conditions.
Market Context
The Bitcoin price had been relatively stable before suddenly jumping past $121,000 on July 13th. This surge happened around the same time the US announced new tariffs, but Bitcoin seemed unaffected, continuing its climb. Bhutan’s sale coincided with this price peak.
In short, Bhutan’s government is playing the crypto game strategically, taking profits when the market is favorable while maintaining a significant long-term crypto investment.