Bhutan Moves $11.8M in Bitcoin as Markets Edge Higher

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The government of Bhutan has moved 175 Bitcoin, worth about $11.85 million, from its main holding wallet as crypto markets recorded modest gains. Blockchain analytics firm Arkham Intelligence reported that the funds were transferred to an address created roughly a month ago, which had previously received another 184 BTC from the government.

The latest transfer remains in the destination wallet for now, according to blockchain data. Analysts noted that a similar move earlier this year preceded a $7 million BTC sale involving QCP Capital, suggesting Bhutan may periodically shift Bitcoin between wallets before selling portions of its holdings.

[johnblockbuster]

previous 184 BTC transfer + $7M sale maybe bhutan just likes moving coins before selling