Bhutan holds another $886 million worth of Bitcoin, which could introduce more selling pressure, as the country has been mining and holding Bitcoin for over five years.
Bhutan’s government has started selling its quietly accumulated Bitcoin holdings as prices soared above the key $70,000 level.
The Bhutan government-labeled wallet transferred over $66 million worth of Bitcoin (BTC) to the Binance deposit wallet, suggesting that it intends to sell the BTC on the world’s largest cryptocurrency exchange.
The $66.5 million was transferred in two transactions on Oct. 29, according to Arkham Intelligence data.
