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Bhutan sends 400 Bitcoin to exchange and can make profits
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This Monday (9), Bhutan moved a significant amount of Bitcoin (BTC) from its official wallet. Blockchain data shows that the country transferred 406 BTC, valued at more than $40 million, to QCP Capital, a platform specializing in cryptocurrency options trading.
The movement indicates a possible profit-taking strategy or diversification of digital assets, according to data from Arkham Intelligence.
The decision comes at a time when Bitcoin is priced above US$99,000,after surpassing the historic US$100,000 mark for the first time last week.
This high appreciation scenario appears to have influenced the Bhutanese government to maximize the yield on its cryptocurrency reserves.
Bitcoin
QCP Capital is recognized in the market for its expertise in options trading, being a preferred destination for large investors looking to manage their crypto assets efficiently.
With this transaction, Bhutan demonstrates its intention to explore the opportunities offered by specialized platforms to increase the return on its investments.
In addition to the transfer to QCP Capital, Bhutan also sent 100 BTC, valued at US$10 million, to Binance, one of the largest exchanges in the world, and 4.5 BTC to an unidentified wallet.
These movements reflect an active digital asset management strategy, something that the country has carried out consistently. In November, for example, Bhutan transferred 367 BTC to Binance when the price was at $91,000 and previously moved $66 million worth of BTC when the cryptocurrency was traded at US$71 thousand.
Currently, Bhutan maintains 11,688 BTC in its reserves, with an approximate value of 1.17 billion dollars, positioning itself as one of the countries with the largest volume of Bitcoin in the world.
These operations highlight the confidence of the Bhutanese government on cryptocurrencies and the growing role of Bitcoin as a strategic asset in national economies. Bhutan continues to demonstrate its ability to adapt its financial strategies to changes in the global cryptoactive market.
Bhutan sends 400 Bitcoin to exchange and can make profits
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Bhutan sends 400 Bitcoin to exchange and can make profits
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Bhutan sends 400 Bitcoin to exchange and can make profits
