Bhutan's Bitcoin Strategy: Recent Deposits Raise Market Speculations
The Bhutanese government has recently moved close to 1,000 bitcoins to Binance, sparking discussions on potential market impacts as Bitcoin nears its all-time high.
The Bhutanese government deposited nearly 1,000 bitcoin into a Binance deposit address recently.
The largest cryptocurrency has surpassed $73,000, getting close to its all-time high as several investors are selling to secure profits at a time when 99.7% of Bitcoin's circulating supply is in profit.
"This recent activity leads to questions about potential market impacts as the Bhutan government, which holds over $900 million in Bitcoin, might be considering the sale of some assets."
Translation: La récente activité soulève des questions sur les impacts potentiels sur le marché alors que le gouvernement bhoutanais, qui détient plus de 900 millions de dollars en Bitcoin, pourrait envisager la vente de certains actifs.
Bhutan's engagement in Bitcoin is linked to its mining operations, controlled by state-owned Druk Holdings, with a move to enhance revenue streams as the global crypto market evolves.
