Search results for Bhutan
Crypto
UAE exchange MidChains CEO says sovereign wealth funds accumulating spot bitcoin
A claim has emerged that sovereign wealth funds have recently been accumulating spot bitcoin, as retail participation slows and institutional and corporate money views current prices as a long-term opportunity. MidChains CEO Basil Al Askari said at least one sovereign wealth fund is buying spot bitcoin and up to two could be confirmed in coming weeks. He said such buying may not quickly lift prices but could signal other institutions.
Crypto
Bhutan transfers another 90 bitcoin, raising questions over sovereign bitcoin unwinding
Bhutan transferred 90 bitcoin to a new SegWit address, taking the value of bitcoin moved externally this year to more than $237 million. On-chain data showed the transfer went to a different address than the main wallets used for sovereign holdings, prompting market speculation about a sale or third-party transfer. Arkham data showed holdings at Druk Holdings have declined by about 10,000 bitcoin from an October 2024 peak.
Crypto
Bhutan accelerates bitcoin sales; holdings could hit zero around September
Bhutan is accelerating sales of its bitcoin holdings, raising the prospect that its national reserves could be effectively depleted around September if the current pace continues. It recently sold an additional 100 BTC worth about $8.1 million. Arkham Intelligence estimates that if average monthly sales of about $50 million continue, Bhutan could exhaust its remaining holdings before the end of September. Bhutan has sold $230.39 million of bitcoin so far this year and has about $252 million left.
