Bhutan Deposits $23.6M in Bitcoin to Binance Amid BTC All-Time High Surge
- Royal Government of Bhutan transfers 212.31 BTC worth $23.61M to the Binance exchange.
- Bhutan has moved 350.74 BTC, totaling $38.5 million over the past 10 days.
- A hydropower-based mining strategy enables sustainable Bitcoin accumulation.
The Royal Government of Bhutan has deposited 212.31 Bitcoin, worth approximately $23.61 million, into Binance. This latest transfer forms part of a larger Bitcoin movement totaling 350.74 BTC, valued at $38.5 million, over the past 10 days.
Bhutan’s policy on Bitcoin began with mining activities initiated by the sovereign wealth fund Druk Holding & Investments in 2019. The government utilizes the nation’s rich hydroelectric power resources to mine Bitcoin as a foreign exchange reserve.
The timing of these deposits coincides with Bitcoin’s new ATH of above $112,000, suggesting prudent treasury management by Bhutanese officials. Government sales of Bitcoin…
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Bhutan Deposits $23.6M in Bitcoin to Binance Amid BTC All-Time High Surge
- Royal Government of Bhutan transfers 212.31 BTC worth $23.61M to the Binance exchange.
- Bhutan has moved 350.74 BTC, totaling $38.5 million over the past 10 days.
- A hydropower-based mining strategy enables sustainable Bitcoin accumulation.
The Royal Government of Bhutan has deposited 212.31 Bitcoin, worth approximately $23.61 million, into Binance. This latest transfer forms part of a larger Bitcoin movement totaling 350.74 BTC, valued at $38.5 million, over the past 10 days.
Bhutan’s policy on Bitcoin began with mining activities initiated by the sovereign wealth fund Druk Holding & Investments in 2019. The government utilizes the nation’s rich hydroelectric power resources to mine Bitcoin as a foreign exchange reserve.
The timing of these deposits coincides with Bitcoin’s new ATH of above $112,000, suggesting prudent treasury management by Bhutanese officials. Government sales of Bitcoin…
The post Bhutan Deposits $23.6M in Bitcoin to Binance Amid BTC All-Time High Surge appeared first on Coin Edition.
Read More