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Bhutan so far holds 11,688 Bitcoin, valued at $1.17 billion.
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Another 100 BTC were sent by Bhutan to the Binance Cryptocurrency exchange.
This Monday, December 9, the bitcoin (BTC) wallet linked to the Kingdom of Bhutan, in Asia, registered various large movements of money. A total of 406 BTC, equivalent to more than $40 million, were sent from that wallet to the wallet of cryptocurrency options trading platform QCP Capital, according to on-chain data.
QCP Capital is an entity known for its specialization in cryptocurrency options trading. The sending of these bitcoins suggests that Bhutan could be taking profits or positioning its assets on a platform where you can trade and manage cryptoasset optionsperhaps seeking to maximize their returns or diversify their investment portfolio.
The movement occurs in a context in which the price of BTC is trading above $99,000, after having surpassed, for the first time last week, the $100,000 markas reported by CriptoNoticias. This increase in the value of BTC may have influenced Bhutan’s strategic investment decisions.
Bhutan moved over 400 BTC to that options trading platform. Source: Arkham Intelligence.
This is not the first time that Bhutan has moved BTC to platforms where cryptoassets can be traded. In November, when the currency reached $91,000, Bhutan transferred 367 BTC to Binance. He then moved 6.9 BTC to an unidentified wallet. Previously, Bhutan had sent $66 million in BTC to Binancewhen the digital asset was priced at $71,000, as this medium also reported.
On this occasion, in addition to the movement towards QCP Capital, Bhutan also sent 100 BTC, valued at 10 million dollars, to the Binance exchange. Additionally, 4.5 BTC was moved to an unidentified wallet, reflecting ongoing activity managing its virtual asset reserves.
At the moment, Bhutan still owns 11,688 bitcoinvalued at $1.17 billion, remaining one of the nations with the largest BTC reserves. These moves not only indicate an active investment strategy by the government of Bhutan, but also reflect the confidence and increasingly prominent role of digital currency in nations’ financial strategies.
This article was created using artificial intelligence and edited by a human Editor.
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