Bhutanese Government Transfers Over 500 BTC to Binance
Date: 2025-07-15 Author: Oliver Abernathy Categories: CRYPTO PAYMENTS, IN WORLD
Over the past few days, Bhutanese government agencies have transferred a total of 512.84 BTC to a Binance deposit address, equivalent to approximately $62.6 million, according to Arkham data. Interestingly, these transfers coincided with Bitcoin once again reaching an all-time high.
According to Arkham, government representatives have made six transactions since July 10, all to the same address. The last transaction was made on July 14 and amounted to 99 BTC. In addition, Arkham analysts noted another transfer - this time 924 BTC was sent to an unknown wallet, which may also indicate a redistribution of funds or preparation for new transactions.
Lookonchain specialists believe that such actions indicate a profit-taking strategy amid the growth of the crypto market. This is not the first time Bhutan has used Binance for such transactions: at the end of June, the country already transferred 137,245 BTC there.
At the moment, the government still has about 10,486 BTC at its disposal, worth about $1.28 billion, which, according to Arkham estimates, exceeds 40% of the kingdom's GDP. The management of these assets is entrusted to the sovereign fund Druk Holdings & Investments, which is responsible for investments in strategically important areas of development.
Mining remains the main source of bitcoins for the country. Bhutan uses excess energy generated by hydroelectric power plants to mine the digital currency. Thanks to this, the country is among the world leaders in bitcoin reserves. According to Bitcoin Treasuries, the kingdom ranks sixth in the ranking of countries with the largest bitcoin reserves.
The government of Bhutan is actively developing crypto infrastructure and introducing digital payments, which helps to modernize the financial system and attract tourists. Binance is supporting the country in these initiatives as a technology partner.
Bhutan thus continues to pursue a strategy of using cryptocurrencies to strengthen the economy and diversify income, while wisely distributing mined assets and locking in profits at the peak of market activity.
