The Royal Government of Bhutan recently transferred approximately 114 Bitcoin, valued at nearly $12 million, to a Binance deposit address according to on-chain data.
This activity follows a larger movement of $66 million in $BTC last month, suggesting the kingdom may be capitalizing on the cryptocurrency's recent price surge.
Despite these transfers, Bhutan remains one of the largest nation-state holders of Bitcoin, maintaining a portfolio worth over $1 billion generated primarily through its national mining operations.

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