Publicly available financial reports or announcements from the Bhutanese government

Bhutan Moves 929 BTC ($66M) to Binance, Holds 12,456 BTC Worth $886M

Oct 29, 2024, 11:56 AM

On October 29, the government of Bhutan transferred 929 BTC, valued at $66.16 million, to Binance, potentially signaling a sale as Bitcoin's price surpassed $71,000. Bhutan's total Bitcoin holdings amount to 12,456 BTC, valued at approximately $886.58 million, representing about 30% of the nation's GDP. This positions Bhutan as the fourth-largest holder of government Bitcoin reserves globally. The country began mining Bitcoin in 2019 utilizing its hydroelectric power resources.