Bhutan’s government transferred 517 Bitcoin worth around $59 million to a new wallet, continuing its pattern of reallocations amid ongoing initiatives in green mining and nationwide crypto payments.
The Royal Government of Bhutan moved 517 Bitcoin, valued at roughly $59 million according to Arkham Intelligence, to a new wallet on Tuesday. Previously, in mid-July, 650 BTC worth about $74 million was transferred to Binance. Druk Holdings now retains 10,769 BTC valued at approximately $1.2 billion. The nation, noted for its crypto innovation, has also launched a nationwide crypto-powered payment system for tourism in partnership with Binance Pay and DK Bank, and is advancing green crypto mining using hydropower. Bitcoin is trading at about $114,500, reflecting a 3% decline over the past week.