Cryptocurrency tracking platform Arkham Intelligence has confirmed that the Asian country of Bhutan has been selling a large amount of Bitcoin (BTC) in recent days.
According to Arkham’s on-chain analysis, $60 million in Bitcoin assets belonging to the Bhutanese government were moved to crypto wallet provider Cobo’s hot wallet at an average price of $116,557. This transaction followed Bhutan’s sell-off in July.
As you may recall, Bhutan transferred approximately $59.42 million worth of BTC to the Binance exchange between July 10-14.
According to Arkham’s data, the amount of Bitcoin held by Druk Holdings, a subsidiary of the Royal Government of Bhutan, remains quite high. The country is currently:
- 10,769 BTC (approximately $1.25 billion)
- He holds cryptocurrency assets worth 656 ETH (approximately $2.5 million).
On the other hand, it was stated that apart from the last transfer, the Bhutanese government did not make any other move.
Bhutan uses the abundant hydroelectric energy in the country for Bitcoin mining and thus obtains BTC.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/country-surprising-with-bitcoin-assets-confirmed-to-have-sold-btc-again-here-is-the-sale-amount-and-remaining-btc/