Bhutan Transfers Bitcoin to Trading Firms Amid BTC Price Decline

The Royal Government of Bhutan has started moving Bitcoin to exchanges as BTC approaches the $70,000 mark amidst heightened market volatility.

Recent wallet activity indicates that the Royal Government of Bhutan has begun transferring Bitcoin to trading firms and cryptocurrency exchanges. This marks the first significant movement of BTC by the government in several months.

The decision comes at a time when the cryptocurrency market is experiencing a downturn, with Bitcoin's price hovering near $70,000. Amidst increased volatility affecting not only cryptocurrencies but also precious metals, Bhutan's actions reflect a strategic maneuver in a fluctuating market.