Search results for Druk Holding and Investments
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 sells another 319 bitcoins, holdings down 70 percent
Bhutan moved an additional 319 bitcoins from government-linked wallets, extending a selling trend that has continued since late last year. The transfer was worth about $22.68 million, and cumulative outflows since late October last year have exceeded 9,000 bitcoins. Bhutan\'s holdings fell to 3,654 bitcoins in April from about 13,000 at the end of last year, a drop of about 70 percent. The government has not issued a public statement on the move.