The government of the Kingdom of Budan transferred 212.31 bitcoin in the amount of about $ 23.61 million per Binance exchange. In total, over the past 10 days, 350.74 bitcoin in the amount of $ 38.5 million has been moved.
Butane is a longtime bitcoin major, which was launched with the participation of the welfare of the Welfare Fund Druk Holding & Investments in 2019. The Kingdom Government uses the country’s hydropower resources to extract bitcoin as a currency reserve.
The time of these deposits coincided with a jump in bitcoin above $ 112,000, which indicates a reasonable management of the Treasury by the Butan authorities.
Interestingly, on July 7, the US government transferred to Coinbase Prime Ethereums in the amount of $ 200,000, which was preceded by a test transaction in the amount of $ 10.
The earliest tracking transaction of bitcoins in Butan was committed in February 2021, despite the fact that mining in the country began back in 2019. And this unique strategy for the government of any country.
Periodically, the Butana government sells part of its bitcoin reserves to finance the construction of infrastructure and social security programs, nevertheless, these sales are not a sign of a refusal to accumulate bitcoins.
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Source: Cryptocurrency
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