Bhutan Moves 400 Bitcoin Worth $30.62 Million to External Wallet, Signaling Possible Sale

Bhutan’s government transferred about 400 Bitcoin, worth $30.62 million, to an external wallet.

Lookonchain reported on Sept. 2 that Bhutan moved the Bitcoin out of government-held wallets that day.

Such transfers by Bhutan are typically interpreted as a signal that a sale could follow, as the government has sold Bitcoin steadily this year.

Bhutan has been stockpiling Bitcoin since 2019 through a government-run cryptocurrency mining operation.