Government of Bhutan Transfers 377.78 BTC: A Closer Look at the Kingdom’s $1.13 Billion Bitcoin Holdings

COINOTAG reports that on January 17th, recent monitoring by OnchainLens revealed a significant transfer executed by the government of the Kingdom of Bhutan. The authorities transferred 377.78 BTC to two separate addresses, equating to approximately $38.57 million. This transaction is part of a larger movement within the crypto sphere, as the past hour alone saw a total of 633.047 BTC changing hands, valued at $64.57 million. Following these transactions, the Kingdom of Bhutan now holds a substantial 11,055 BTC, which translates to an impressive $1.13 billion in assets. This is a noteworthy development in the realm of government cryptocurrency holdings and underscores the growing involvement of state entities in the digital currency market.