Summary
- The Bhutanese government transferred another 100 Bitcoin, worth about $7.8 million, as it continued selling the cryptocurrency.
- Bhutan has steadily sold Bitcoin this year, transferring $84 million worth to external wallets in April alone.
- Arkham said Bhutan will have sold all of its Bitcoin holdings by October if the current pace continues.
Forecast Trend Report by Period
Bhutan's government has transferred another 100 Bitcoin as it continues to sell down its holdings.
Blockchain analytics firm Arkham said on April 29 that the Bhutanese government moved 100 Bitcoin to an external wallet. The transfer was worth about $7.8 million at current prices.
Bhutan has steadily sold Bitcoin this year. In April alone, it transferred Bitcoin worth $84 million to external wallets.
The country accumulated Bitcoin through cryptocurrency mining starting in 2019. At the current pace, Bhutan will have sold all of its Bitcoin holdings by October, Arkham said.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
