Bitcoin News
By Dan Saada
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A Steady Outflow With No Official Explanation. The pattern is pretty hard to ignore at this point. Each transaction chips away at a reserve that…
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What the Numbers Actually Tell Us. 738 bitcoin at $44.88 million works out to roughly $60,800 per coin at the time of the transfer —…
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Bhutan moved 738 bitcoin on June 6. That's roughly $44.88 million gone from the Himalayan kingdom's reserves in a single day — and it's far from the first time.
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The transfer is the latest in a string of transactions that have been quietly chipping away at Bhutan's digital holdings over recent months. No official statement came with it.
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The pattern is pretty hard to ignore at this point. Each transaction chips away at a reserve that once made Bhutan one of the more surprising sovereign bitcoin holders on the…
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But the selling has been consistent. And the reserves have been shrinking. The cumulative effect of these sales is substantial — the kind of drawdown that raises real questions…
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The government hasn't said. That's the frustrating part for anyone trying to make sense of it.
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Some think it's probably fiscal. Bhutan is a small economy, and converting digital assets into cash — especially at prices that have remained elevated — makes straightforward…
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Others wonder if the kingdom is repositioning strategically, maybe reducing its crypto exposure as global regulatory pressure on digital assets builds.
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More context: Crypto Community Debates Bitcoin Dominance Stability This Weekend
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738 bitcoin at $44.88 million works out to roughly $60,800 per coin at the time of the transfer — which is consistent with where bitcoin has been trading.
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And that's actually interesting. A government that needed cash urgently might sell regardless of price. A government managing a deliberate exit might try to time it.
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What's clear is the trend. The reserves are smaller now than they were. Each transfer adds to a cumulative outflow that has been, by any measure, significant for a country of…
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Sovereign bitcoin holdings have become a genuinely contested topic globally. Some governments have moved toward accumulating more.
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No details have emerged from Bhutanese authorities about whether a floor exists — some minimum reserve they plan to keep — or whether the sales will continue until the wallet is…
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