Bhutan has once again made a major Bitcoin move, transferring 800 BTC—worth around $92 million—into two new wallet addresses, according to on-chain tracker Lookonchain. The transactions have raised speculation that the funds may be linked to deposits at Binance, potentially signaling a future sale.
This is not the first large transfer by the Himalayan kingdom. Earlier this month, on August 5, Bhutan moved 517 BTC valued at $59 million to Cobo Custody, while in July, analysis by Onchain Lens showed 650 BTC sent to Binance. Such patterns suggest that Bhutan has been actively managing and, at times, liquidating parts of its crypto holdings.
Despite the movements, the country’s investment arm, Druk Holding and Investments, continues to hold a sizable Bitcoin stash. With more than 9,900 BTC remaining, the holding is worth over $1.15 billion at the current trading price of about $115,565 per Bitcoin.
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