Key Points
- Bhutan’s Government transferred 633 BTC worth over $64.5 million to three new wallets today.
- Currently, the region still holds 11,550 BTC worth over $1.13 billion and more assets including BNB.
The Royal Government of Bhutan initiated a few Bitcoin transfers today, raising discussions on social media regarding potential transfer reasons.
Bhutan Transfer Details
According to on-chain data from Lookonchain, the Royal Government of Bhutan transferred 633 BTC worth over $64.5 million to three new wallets in the last hours.
Official data shows a transfer of 0.001 BTC which was probably a test move, followed by more significant BTC transfers, one of over 258.2 BTC and another of over 377.7 BTC.
The transfers were made to three separate unknown wallets.
Lookonchain also highlighted the current Bitcoin holdings of Bhutan.
Bhutan Holds $1.13 Billion in BTC
According to official data from Arkham Intelligence, the Royal Government of Bhutan currently holds 11,055 BTC worth more than $1.13 billion.
Arkham’s official website reveals other digital assets held by Bhutan’s government.
Bhutan’s Crypto Reserves Include BNB
These include over 656 ETH worth more than $2.25 million, and more digital assets including BNB.
The government doesn’t hold a significant BNB amount so far, it is listed at 0.006 BNB at the moment worth almost $723 at current prices.
Other coins included in Bhutan’s crypto treasury include MATIC, APU, AIKEK, BOBO, KIBOSHI, SAND, and more, according to Arkham’s website.
On January 8, we revealed that a region in Bhutan would hold BNB, BTC, and ETH as part of strategic reserves.
On that day, an official press release revealed that the Gelephu Mindfulness City (GMC), which is Bhutan’s Special Administration Region announced its intention to recognize crypto including BTC, ETH, and BNB as part of its strategic reserves.
BNB’s Validation
This was an important validation for Binance’s BNB, highlighted by the exchange’s co-founder Yi He on X at the time.
CZ also shared a message about this achievement, highlighting its importance to BNB.
Also, it’s worth noting that we recently revealed that BNB was also included in Grayscale’s list of crypto assets to be considered for future investments.
BNB’s recognition is important for the Binance crypto exchange which continues hitting one milestone after another.
Binance’s Rising Success
Binance’s CEO, Richard Teng, highlighted CryptoQuant’s recent survey that showed Binance became traders’ favorite centralized exchange, with 53% using it as their primary platform, and 51% making the highest profits with the exchange.
Also, 48% of interviewed traders hold most of their assets on the crypto exchange, according to the survey.
Binance also secured an agreement to operate in Uzbekistan under regulatory compliance, marking another important move to support global crypto adoption.
So far, more than 250 million users have chosen the crypto exchange, showing increased trust in the platform.
