{"id":25257,"date":"2025-07-11T11:11:06","date_gmt":"2025-07-11T08:11:06","guid":{"rendered":"https:\/\/forklog.com\/en\/bhutan-transfers-23-7-million-in-bitcoin-to-binance\/"},"modified":"2025-07-11T11:11:06","modified_gmt":"2025-07-11T08:11:06","slug":"bhutan-transfers-23-7-million-in-bitcoin-to-binance","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bhutan-transfers-23-7-million-in-bitcoin-to-binance\/","title":{"rendered":"Bhutan Transfers $23.7 Million in Bitcoin to Binance"},"content":{"rendered":"<p>On July 10, the government of Bhutan <a href=\"https:\/\/intel.arkm.com\/explorer\/tx\/b6062502f4778448dcd792850a9d3d199129a0f095568266139ca4f205e43d39\">transferred<\/a> 213.31 BTC ($23.7 million) to the Binance exchange, according to Arkham. The transaction occurred hours after Bitcoin&#8217;s price <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-surges-to-new-high-above-113500\">reached<\/a> a historic high near $113,500.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"382\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2025-07-11-103916-1024x382.png\" alt=\"Snimok-ekrana-2025-07-11-103916\" class=\"wp-image-261799\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2025-07-11-103916-1024x382.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2025-07-11-103916-300x112.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2025-07-11-103916-768x286.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2025-07-11-103916.png 1290w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: Arkham.<\/figcaption><\/figure>\n<p>The exact reason for the transfer remains unknown. However, such deposits on centralized platforms typically precede asset sales.<\/p>\n<p>According to Arkham, Bhutan still holds 11,711 BTC ($1.38 billion), equivalent to 40% of the country&#8217;s gross domestic product. The reserves also include 656 ETH.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2025-07-11-103734.webp\" alt=\"Snimok-ekrana-2025-07-11-103734\" class=\"wp-image-261800\"\/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/intel.arkm.com\/explorer\/entity\/druk-holding-investments\">Arkham<\/a>.<\/figcaption><\/figure>\n<p>The assets are managed by the state investment fund Druk Holding &#038; Investments. Unlike many countries that acquire cryptocurrency through confiscations, Bhutan <a href=\"https:\/\/forklog.com\/en\/news\/crypto-bhutan-how-one-of-the-worlds-most-closed-countries-pioneered-green-mining\">engages in mining<\/a>. The kingdom utilizes its hydroelectric resources for Bitcoin mining.<\/p>\n<p>According to <a href=\"https:\/\/bitcointreasuries.net\/\">BitcoinTreasuries<\/a>, Bhutan ranks sixth globally in Bitcoin reserves.<\/p>\n<p>Earlier, on June 30, the government of Bhutan <a href=\"https:\/\/forklog.com\/en\/news\/bhutan-transfers-portion-of-bitcoin-reserves\">transferred<\/a> 137.245 BTC to Binance. The transaction sparked speculation about potential market pressure.<\/p>\n<p>The kingdom&#8217;s authorities are <a href=\"https:\/\/forklog.com\/en\/news\/bhutan-embraces-cryptocurrency-payments-to-boost-tourism\">implementing<\/a> crypto payments to modernize the financial system and attract tourists with Binance&#8217;s support.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On July 10, the government of Bhutan transferred 213.31 BTC ($23.7 million) to the Binance exchange, according to Arkham. The transaction occurred hours after Bitcoin&#8217;s price reached a historic high near $113,500. Source: Arkham. The exact reason for the transfer remains unknown. However, such deposits on centralized platforms typically precede asset sales. According to Arkham, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":25256,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1676,1641],"class_list":["post-25257","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bhutan","tag-bitcoin-reserves"],"aioseo_notices":[],"amp_enabled":true,"views":"33","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/25257","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=25257"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/25257\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/25256"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=25257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=25257"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=25257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}