#Bhutan Government Transfers Bitcoin#

The Royal Government of Bhutan has recently made two large-scale Bitcoin transfers. According to Onchain Lens and PeckShieldAlert, the Bhutanese government transferred 255.26 BTC (worth $26 million) and 377.78 BTC (worth $38.57 million) to two unknown wallets, totaling 633.047 BTC worth $64.57 million. Currently, the Bhutanese government holds 11,055 BTC, worth $1.13 billion.While the final destination of these Bitcoins is currently unclear, based on previous records, the Bhutanese government may have sent these Bitcoins to Binance exchange.This transfer has sparked speculation about the Bhutanese government's Bitcoin holding strategy. Some analysts believe that the Bhutanese government may be selling some of its Bitcoin to raise cash, or may be adjusting its investment portfolio.The Bhutanese government has always been open to cryptocurrency and sees it as an important component of its economic development. In 2020, the Bhutanese government announced that it would adopt Bitcoin as legal tender, becoming the first country in the world to do so.This Bitcoin transfer event once again demonstrates the Bhutanese government's importance to cryptocurrency and highlights the growing influence of cryptocurrency worldwide.