Summary
- The Bhutan government reportedly transferred US$100 million worth of Bitcoin to a new wallet.
- The transfer raised the possibility of the Bhutan government selling Bitcoin.
- The Bhutan government still holds 9,652 BTC (US$1.13 billion).
The Bhutan government has transferred US$100 million (about KRW 140 billion) worth of Bitcoin (BTC) to a new wallet.
On the 18th (local time), according to on-chain analytics firm Lookonchain, the Bhutan government transferred 913 BTC to two new wallets that day. The Bitcoin transferred by the Bhutan government that day is currently valued at US$100.7 million.
Analysis suggests the Bhutan government may have started additional Bitcoin sales. The Bhutan government has recently sold Bitcoin repeatedly.
Earlier, Bhutan began mining Bitcoin using surplus electricity in 2017. Lookonchain said, "(The Bhutan government) still holds 9,652 BTC." It is currently valued at US$1.13 billion (about KRW 1.6 trillion).
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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