Bhutan’s Bold Bitcoin Play: $23.7M Move to Binance as BTC Soars to New ATH

Bhutan’s government just made a power move—shifting $23.7M in Bitcoin to Binance as prices hit record highs. Is this a strategic exit or just another nation-state catching the crypto fever?

Timing the top—or fueling it?

The Himalayan kingdom’s wallet activity coincides with BTC’s latest bull run, sparking debates about sovereign wealth strategies in the volatile crypto markets. No official statement yet, but blockchain doesn’t lie.

Meanwhile, traditional finance pundits are still explaining why Bitcoin ‘has no intrinsic value’—right between sips of their $8 artisanal coffee.

Calculated Timing Amid bitcoin Rally The timing of these transfers seems highly deliberate. Bitcoin recently registered a new all-time high of $112,000 and is currently trading at $111,328, up 2.39% in the last 24 hours. Bhutan's moves suggest a calculated effort to capitalize on favorable market conditions. This strategy aligns with earlier behavior. In March 2025, Bhutan quietly transferred $63 million worth of Bitcoin to multiple wallets, coinciding with local price peaks. These regular, near-quarterly moves suggest a shifting national policy that sees Bitcoin as a dynamic, high-yield treasury asset, not just a passive store of value. Small Nation with a Big Crypto Bet Since beginning Bitcoin mining operations in 2020, Bhutan has woven crypto into the fabric of its economy. Estimates suggest Bitcoin now contributes 30.7% to 40% of the country’s GDP, depending on price fluctuations and private holdings. With 11,711 BTC, worth about $1.3 billion at current prices, Bhutan holds the third-largest national Bitcoin reserve globally, according to The Wall Street Journal. For a small Himalayan kingdom, Bhutan’s approach is striking. While many nations cautiously explore digital assets, Bhutan is taking a more proactive approach. It is actively managing its crypto reserves with the sophistication of a hedge fund.