According to Arkham monitoring, the Bhutan government recently transferred 90 BTC, worth approximately $7 million, to a bc1q- SegWit address. This address is different from their long-term holding P2SH addresses starting with 3, which usually indicates BTC has been transferred to other entities. The Bhutan government regularly transfers small amounts of BTC to SegWit addresses. Since reaching a peak holding of about 13,390 BTC in October 2024, their BTC holdings have decreased by approximately 10k BTC, and they currently hold about $233 million worth of BTC.

BTC-2.92%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 11
  • 1
  • Share
Comment
Add a comment
Add a comment
AirdropEtiquette
· 05-27 09:46
7 million dollars can be transferred instantly, small countries' finances are quite flexible.
View OriginalReply0
FeeFiFoFum
· 05-26 13:03
10k BTC are gone, is this to cash out or to rebalance?
View OriginalReply0
CandleChaser
· 05-26 07:08
This operation in Bhutan is pretty impressive—going from starting with 3 to bc1q; if you know, you know.
View OriginalReply0
SlippageSkeptic
· 05-25 10:12
A small country is trading cryptocurrencies more aggressively than I am; I feel ashamed.
View OriginalReply0
RevokingPermissionsOnARainy
· 05-25 10:05
Government-level DCA selling, more disciplined than retail investors.
View OriginalReply0
ForkMoment
· 05-25 10:04
233M in holdings still a lot, don't panic
View OriginalReply0
DrinkWaterBeforeTheMarket
· 05-25 10:03
P2SH switches to SegWit, a technical upgrade or a tactical shift
View OriginalReply0
FrontrunTherapy
· 05-25 10:03
bc1q addresses are usually for new wallets, possibly prepared to transfer to an institution?
View OriginalReply0
RollupStreetKid
· 05-25 10:03
Reduced from 13k tokens to just a remainder, this selling-off pace is very steady.
View OriginalReply0
GateUser-2100b43b
· 05-25 10:03
7 million dollars is probably just pocket change for the government.
View OriginalReply0
View More
  • Pinned