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Ethereum
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BNB
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Solana
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XRP
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Shiba Inu
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Pepe
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dogwifhat
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Bitcoin
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BNB
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Solana
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XRP
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Shiba Inu
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Pepe
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Bonk
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dogwifhat
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Popcat
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Bitcoin
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Ethereum
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BNB
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$617.42 -2.43133
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Solana
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$207.76 0.55358
Solana price
XRP
XRP (XRP)
$0.576757 -0.93078
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000251 12.00679
Shiba Inu price
Pepe
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$0.000012 5.01061
Pepe price
Bonk
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$0.0000254 10.0564
Bonk price
dogwifhat
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Popcat
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$1.56 9.44015
Popcat price

Kingdom of Bhutan deposits $66m in Bitcoin on BinanceĀ 

News
Kingdom of Bhutan deposits $66m in Bitcoin on BinanceĀ 

The Kingdom of Bhutan has moved Bitcoin to a centralized crypto exchange for the first time since July 1.

Arkham data confirmed that Bhutanā€™s government sent 929 Bitcoin (BTC), worth over $66 million, on Oct. 29 to a Binance deposit address, slightly reducing its substantial crypto holdings. Officials initially moved 100 BTC, or $7.3 million, to the exchange in what appeared to be a test transaction. Bhutan subsequently transferred 839 BTC, valued at around $59 million, in a follow-up transaction.

Arkham began tracking Bhutanā€™s crypto holdings in September, revealing that the small Asian nation held nearly $1 billion in Bitcoin.

According to crypto.news, Bhutan has invested heavily in BTC mining since 2023, generating over $750 million in Bitcoin in just over a year. Druk Holding & Investment, Bhutanā€™s investment department, manages its BTC reserves, giving Bhutan the worldā€™s fifth-largest sovereign-controlled Bitcoin stack.

The U.S., with its 203,239 BTC; China, with 190,000 BTC; the United Kingdomā€™s 61,245 BTC; and Ukraine hold the only government Bitcoin balances larger than Bhutanā€™s.

Bhutanā€™s approach to acquiring BTC stands out. Unlike countries like the U.S. and China, which obtained much of their crypto holdings through seizures, Bhutan mined its holdings using computing power, repurposing a converted educational project.

Following its transfers to Binance, Bhutan still holds 12,456 BTC, worth over $885 million with the recent surge in the crypto market. BTC recently crossed $71,000, with analysts suggesting it could retest its all-time high of over $73,000 from March.

Bhutan also owns an estimated $600,000 in Ethereum (ETH) and holds smaller amounts in other cryptocurrencies.