Bitcoin News
By Sakamoto Nashi
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A Silence Fueling All Theories. The lack of official communication is, at this point, almost as noteworthy as the sales themselves.
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The Market Watches, But Doesn’t Really React. 738 bitcoins is a lot for a sovereign state to sell in one day.
3 / 15
Bhutan is selling again. On June 6, the Himalayan kingdom transferred 738 bitcoins — approximately $44.
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What stands out is the pace. Bhutan isn’t selling just once or discreetly rebalancing its portfolio every other quarter.
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And this fuels speculation. Some observers believe Bhutan is looking to reduce its exposure to digital assets — likely because bitcoin’s volatility remains difficult to integrate…
6 / 15
What is certain: each transfer reduces the reserves. And without a known starting point, it’s impossible to say whether Bhutan is at 10% or 80% of its total liquidation.
7 / 15
738 bitcoins is a lot for a sovereign state to sell in one day. But in a market that handles billions daily, this volume is probably not enough to significantly move prices.
8 / 15
Read also: Strategy Sells 32 Bitcoins to Pay Dividends and Shocks the Market
9 / 15
What interests the markets is the signal. A state accumulating bitcoin makes headlines. A state selling regularly, silently, without a communicated strategy, raises questions.
10 / 15
Read also: Dogecoin Needs 247x Gains to Hit Analyst Marks $20 Call on 154.5B Token Supply
11 / 15
This positioning was seen as a form of financial avant-gardism. Today, successive sales give a different impression. Perhaps a strategic withdrawal. Perhaps a budgetary constraint.
12 / 15
And that’s what frustrates analysts who closely follow these movements: without communication on the use of proceeds, without indication of the remaining volume, without a…
13 / 15
The series of sales continues, in any case. And at this rate, the question of whether Bhutan will go to zero — a total liquidation of its bitcoin holdings — is no longer as…
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What is there: 738 bitcoins less, $44.88 million somewhere, and a government that still says nothing.
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On the same topic: Worldcoin Drops 20% After Arthur Hayes Sells a Day After Promising to Hold
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