An address believed to belong to the Royal Government of Bhutan just moved 533.2 BTC, worth around 34.52 million USD, to Binance.

On-chain analyst Ember Monitoring stated that this is the latest move in a sell-off chain that has been ongoing since June last year. This address is thought to have offloaded about 10,451 BTC over the past year and still holds around 1,750 BTC.

According to the above estimate, the amount of BTC sold brought in about 979 million USD, with an average price of 93,738 USD per BTC. The purpose of the latest coin transfer to the exchange is still unclear.

The remaining BTC is estimated to be worth around 113 million USD. Current data doesn't provide any further insight into the next moves from this wallet.

Source: https://tintucbitcoin.com/chinh-phu-bhutan-chuyen-btc-len-binance-ban-btc-trong-nam/

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