The Royal Government of Bhutan has transferred nearly $12.05 million worth of Bitcoin to Binance as part of its ongoing crypto activities.
Blockchain analytics platform Onchain Lens flagged the transfer of 99.47 BTC, executed through Bhutan’s investment arm, Druk Holding, on Monday.
The Royal Government of Bhutan has sent 99.47 $BTC worth $12.05M to #Binance.
In the past 2 weeks, they have sent a total of 650 $BTC worth $74.24M to #Binance.https://t.co/q4dW3qJBT5 pic.twitter.com/xgEaa4mzpC
— Onchain Lens (@OnchainLens) July 14, 2025
This transaction forms part of a broader trend observed over the past two weeks, during which Bhutan moved a total of 650 BTC, valued at approximately $74.24 million, to Binance. The government’s wallet had remained dormant for two weeks until June 30, when it transferred 137.24 BTC, worth approximately $14.7 million, as Bitcoin traded at $107,000. Since then, consistent outflows ranging from 2 BTC to as high as 200 BTC have been recorded.
The latest transfer came shortly after Bitcoin crossed the $120,000 mark for the first time. At the time of writing, Bitcoin trades at around $122,300, maintaining strong upward momentum.
Bhutan, under King Jigme Khesar Namgyel Wangchuck, has strategically integrated cryptocurrency into its national development plans. The country currently holds 11,411 BTC, equivalent to nearly $1.4 billion, alongside 656 Ether valued at around $2 million, according to data from Arkham.
Notably, Bhutan’s crypto strategy includes hydro-powered Bitcoin mining and establishing a crypto reserve. In May, it partnered with Binance to enable crypto payments in a bid to enhance its tourism sector. The initiative allows travellers with Binance accounts to pay for nearly every aspect of their trip using cryptocurrency. However, challenges such as unstable internet infrastructure continue to pose hurdles to widespread adoption.
In January, Bhutan’s newly established special administrative region, Gelephu Mindfulness City (GMC), announced plans to include Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB) in its strategic reserves. This innovative move positions the region as one of the first in the world to integrate digital assets into its financial framework.
The government has yet to comment on these recent Bitcoin transfers.
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