Bhutan-Linked Bitcoin Wallet Moves $34.61M, Sparks Sell-Off Speculation

A Binance-linked deposit address associated with Bhutan has recently received about $34.61 million worth of Bitcoin, prompting questions about the possible movement of government-controlled assets.

Of that total, roughly $18.26 million is reported to have come directly from wallets linked to Bhutan’s known holdings, suggesting the funds may be internally sourced.

Even so, Bhutan’s overall Bitcoin reserves are estimated at around $113.69 million, leaving it unclear whether the activity signals asset liquidation or simply internal wallet reorganization.

Source: Arkham