Royal Government Moves 137 BTC to Binance as Market Eyes Sell Pressure
The Royal Government of Bhutan has reportedly moved 137.245 bitcoin (BTC), valued at around $14.77 million, to the Binance crypto exchange on June 30, 2025, according to Arkham Intelligence blockchain data.
This move has sparked speculation about a possible near-term sell-off, particularly as large-scale transfers to exchanges typically signal an intent to sell. The activity coincides with a period of price consolidation for Bitcoin, which is currently trading at approximately $107,000.
Bhutan’s Bitcoin Holdings Approach $1.3 Billion
Bhutan, a small Himalayan kingdom known more for its Gross National Happiness index than financial markets, has quietly become a major Bitcoin holder. Its state-backed reserves now total 11,924 BTC, which amounts to approximately $1.28 billion in value.
These holdings have largely been accumulated through state-sponsored mining operations, led by Druk Holdings & Investments in partnership with Bitdeer Technologies. The partnership includes a major expansion plan that aims to scale Bhutan’s mining capacity to 600 megawatts by 2025—a significant infrastructure bet on digital assets.
Potential Sell Pressure as Traders Watch Market Response
The recent transfer to Binance has raised concerns about sell pressure in the market, especially as BTC struggles to break past recent highs, despite heavy institutional and corporate accumulation.
“Large holders like Bhutan, sitting on substantial unrealized profits, may choose to take partial profits to balance portfolio risk,” analysts note.
This behavior helps explain why Bitcoin hasn’t reached new all-time highs, despite a wave of corporate buying from firms like Strategy and Metaplanet.
No Official Comment from Bhutan Yet
As of now, no official statement has been made by Bhutanese authorities regarding the intent behind the BTC transfer. Without direct confirmation, it remains uncertain whether the move was for liquidity management, custodial reshuffling, or a prelude to a partial sale.
Regardless, Bhutan’s growing influence in the crypto space marks a remarkable shift in national financial strategy, highlighting how even small nations are leveraging blockchain and bitcoin as part of their economic diversification efforts.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.