Bhutan’s Bold Bitcoin Exit: Govt Cashes Out at Peak Prices as BTC Shatters ATH

Himalayan kingdom makes power play—dumps BTC stash right as markets hit euphoria.

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This was an expected move as some investors booked profit after BTC hit a new ATH. The largest single liquidation order of BTC-USDT valued at $51.56 million happened on crypto exchange HTX, as per Coinglass data.

The Bhutan government has been quietly liquidating its bitcoin holdings in the last few months. Most recently, the wallet moved nearly 140 BTC to crypto exchange Binance last week, according to Arkham data.

The country laid out a broader and clearer vision to bring crypto into everyday life by building partnerships with Binance Pay and others. Binance CEO Richard Teng also hailed Bhutan’s vision as the world’s first national crypto payment system.

BTC price pared some gains after hitting a new ATH in the past 24 hours. The price is currently trading at $111,020, with a 24-hour low and high of $108,546 and $111,925, respectively. Furthermore, the trading volume has increased by 44% in the last 24 hours, indicating a massive interest among traders. Bitcoin price could hit $135K this year.

Also Read: How Bhutan Secretly Mined Bitcoin Worth 40% of Its GDP