←Back to feed
⛓️ Crypto⚪ NeutralImportance 6/10
Bitcoin Worth Nearly $12 Million Moved By Bhutan In Fresh On-Chain Activity
🤖AI Summary
Bhutan moved 175 Bitcoin worth $11.85 million from its government wallet, continuing a pattern of selling $5-10 million batches to fund public services. The kingdom has built its 5,400 Bitcoin holdings through hydroelectric-powered mining since 2019, making it the seventh-largest sovereign Bitcoin holder globally.
Key Takeaways
- →Bhutan transferred $11.85 million worth of Bitcoin following its established pattern of periodic sales in $5-10 million batches.
- →The kingdom has accumulated roughly 13,000 Bitcoin since 2019 through state-backed mining powered by surplus hydroelectric energy.
- →Bitcoin sale proceeds have funded healthcare, environmental programs, and government worker salaries in Bhutan.
- →Bhutan currently holds around 5,400 Bitcoin, ranking seventh among sovereign Bitcoin holders globally.
- →The 2024 Bitcoin halving reduced mining profitability, leading to more frequent sales by the kingdom.
Mentioned Tokens
$BTC$70,024▲+1.5%
$ETH$2,035▲+1.0%
Non-custodial · Your keys, always
Read Original →via NewsBTC
Act on this with AI
This article mentions $BTC, $ETH.
Let your AI agent check your portfolio, get quotes, and propose trades — you review and approve from your device.
Related Articles