Summary
- About 520 Bitcoin, worth roughly $36.75 million, were transferred from a wallet linked to the Bhutanese government to three wallets, the report said.
- The Bhutanese government has carried out three large Bitcoin transfers this month alone, totaling about $84 million, it said.
- The Bhutanese government wallet is reported to currently hold about 4,453 Bitcoin, a sharp decline from more than 13,000 in October 2024, the report said.
Forecast Trend Report by Period
The Bhutanese government has carried out a large-scale transfer of Bitcoin (BTC) worth $37 million.
According to Onchain Lens on the 25th (local time), about 520 Bitcoin were transferred on the day from a wallet linked to the Bhutanese government to three wallets. At current prices, the transfer was worth $36.75 million. One of the three wallets is said to be linked to QCP Capital, a Singapore-based crypto investment firm.
The Bhutanese government has made three large Bitcoin transfers so far this month. According to Cointelegraph, the Bitcoin transferred by the Bhutanese government this month totals about $84 million. The Bhutanese government also conducted a large Bitcoin transfer last month. Cointelegraph said, “Bhutan transferred more than 284 Bitcoin last month,” adding, “This month, the scale of (Bitcoin) outflows from the Bhutanese government has grown.”
A wallet linked to the Bhutanese government is reported to currently hold about 4,453 Bitcoin. Cointelegraph noted, “This marks a sharp decline compared with October 2024, when its Bitcoin holdings exceeded 13,000.”
Meanwhile, Bhutan has been accumulating Bitcoin since 2019 through its crypto mining operations. Cointelegraph said, “Bhutan is among the first countries to adopt Bitcoin mining.”
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
