Bhutan Sells 319 BTC Again, Ownership Drops from 13,000 to 3,954 BTC

The Kingdom of Bhutan's government continues to transfer large amounts of Bitcoin assets.
In the latest transaction, Bhutan reportedly transferred about 319.7 BTC worth $22.68 million in just the past hour.
This move continues a selling trend that has been ongoing since October 28, 2024. During this period, Bhutan's Bitcoin holdings sharply decreased from around 13,000 BTC to 3,954 BTC.
This means more than 9,000 BTC have been released into the market, with a total value reaching approximately $640 million.
Bhutan was previously known as one of the countries with significant Bitcoin holdings, mostly acquired through mining activities utilizing hydro energy.
This reduction in reserves indicates a liquidation or asset management strategy by the government, although the specific purpose of the sales has not been officially disclosed.
This movement also draws attention from market participants, as large transactions by a state entity can impact liquidity and market sentiment in the crypto space.
With remaining holdings still quite substantial, Bhutan's activity in the Bitcoin market remains one of the factors monitored by global investors.
#FDICReleasesStablecoinGuidanceDraft
#MetaReleasesMuseSpark
#CanaryFilesSpotPEPEETF
#GateSquareAprilPostingChallenge