bullish

Future

Secure

Bitcoin

Status

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bhutan-government-sells-bitcoin-on-binance-to-secure-profits/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bhutan Government Sells Bitcoin on Binance to Secure Profits</a><br></p>
<p style="text-align: justify">The Bhutanese government moved part of its Bitcoin assets to the <a href="https://en.coin-turk.com/binance-lists-brett-futures-with-50x-leverage/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance</a> exchange, indicating a strategy to sell these <a href="https://en.coin-turk.com/jpmorgan-reveals-the-potential-legal-risks-of-spot-bitcoin-etf/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrencies</a>. This decision aligns with the recent upward trend in Bitcoin prices, suggesting the government aims to secure profits from its holdings.</p>
<h2 id="details-of-the-sale">Details of the Sale</h2>
<p style="text-align: justify">According to data from Arkham Intelligence, the Royal Government of Bhutan transferred approximately 367 BTC, valued at around 33 million dollars, to the Binance exchange today. This action is viewed as a sale aimed at capitalizing on the increased price of Bitcoin.</p>
<p style="text-align: justify">About two weeks ago, the government took a similar step by selling Bitcoin worth 66 million dollars through one of the largest exchanges when Bitcoin prices had surpassed 70,000 dollars.</p>
<h2 id="future-plans-and-bitcoin-s-status">Future Plans and Bitcoin’s Status</h2>
<p style="text-align: justify">On-chain data shows that Bhutan still holds 12,206 BTC, approximately 1.11 billion dollars in value. If the bullish trend in Bitcoin prices continues, the government is likely to sell more of its holdings. Bitcoin has experienced a parabolic rise with Donald Trump’s election victory, and expectations are set for it to reach 100,000 dollars by the year’s end.</p>
<p style="text-align: justify">Bhutan’s sale demonstrates important insights about volatility in <a href="https://en.coin-turk.com/decline-in-canadian-interest-in-cryptocurrency-investments/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a> markets and the asset strategies of governments. Other nations may also develop similar strategies to manage their digital assets effectively.</p>
<p style="text-align: justify">Such developments in cryptocurrency markets provide significant clues about how digital assets are managed by states and may influence future financial strategies.</p>
<p style="text-align: justify">The use of blockchain and cryptocurrencies by governments plays a notable role in the evolution of financial instruments. Bhutan’s strategic move could serve as a reference point for other countries.</p>
<p>The post <a href="https://en.coin-turk.com/bhutan-government-sells-bitcoin-on-binance-to-secure-profits/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bhutan Government Sells Bitcoin on Binance to Secure Profits</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Bhutan Government Sells Bitcoin on Binance to Secure Profits

Table of Contents

COINTURK NEWS

Other articles published on Nov 14, 2024

South Korea-Based Bithumb Exchange Held a Special Event by Listing These Altcoins in Spot Trading!

Can Peanut the Squirrel 3500% Surge Push PNUT to $3?

Bitcoin, Dogecoin, and XYZVerse: 3 Cryptos Set for Success Under Trump’s Administration!

9 Best Cryptos by Year-to-Date Performance: Will US Election Result Paint Cryptos in Green?

Is DeSci the Next Big Thing? Binance’s CZ, Brian Armstrong, and Vitalik Are All In

Nexon confirms jiggle physics for The First Descendant in response to player requests

Join our free newsletter for daily crypto updates!