Bhutan Sells Bitcoin To Fund Public Services
On Monday, blockchain analytics firm Arkham flagged a transfer of 175 Bitcoin, worth roughly $11.85 million, out of Bhutan’s main government wallet. The move joined a pattern of periodic $5 million–$10 million disposals; Arkham estimates Bhutan now holds about 5,400 Bitcoin after earlier sales. Bhutan mined roughly 13,000 Bitcoin since 2019 using surplus hydroelectric power and uses proceeds to fund healthcare, environmental programs, and government salaries.
Scoring Rationale
On-chain transfer reporting is timely and relevant, but reliance on Arkham analytics and unconfirmed sale reduces certainty.
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Sources
- Read OriginalBitcoin Worth Nearly $12 Million Moved By Bhutan In Fresh On-Chain Activitynewsbtc.com
