Royal Government of Bhutan once again moves Bitcoin (BTC) through anonymous addresses
The post Royal Government of Bhutan once again moves Bitcoin (BTC) through anonymous addresses appeared on BitcoinEthereumNews.com.
The Royal Government of Bhutan sold another tranche of Bitcoin (BTC) as prices recovered close to $102,000. The small country has previously sent out BTC for long-term holding or sale through Binance and Kraken. The Royal Government of Bhutan’s wallets once again moved some of the mined Bitcoin (BTC), this time to unknown addresses. Druk Holdings, the country’s mining operator, still has significant reserves at 11,055K BTC, valued at over $1.16B. The first large transfer was for 255.26 BTC, sent out to an unknown address. In the last month, the wallet originated several smaller transactions to CoinJoin addresses and other unidentified wallets. After that, the wallet originated a transaction for 377.787 BTC, sent to an anonymous CoinJoin address. Not all BTC sent from Bhutan’s main wallet ended up liquidated, as some of the new addresses are still holding it. Some of the coins were moved for additional security, as the government’s wallets are attacked with zero-value transactions. The destination address now holds over $26M, or 254.26 BTC, with no other connections or deposits from other wallets. The biggest storage wallet also connects to several smaller mining wallets with $180M, $216M and $19M in BTC, held as additional reserves. The long-term holding of the government extends the overall trend for miners to retain older coins, as they sit on reserves of over 1.9M BTC. Bhutan’s holdings join those of 156 total entities with significant BTC reserves. Over 2.98M BTC are held in various types of treasuries, either legacy or newly acquired with leveraged funds. Did Bhutan stop mining? The two mining wallets of Druk Holdings have not received their regular rewards for a while. The last rewards from Foundry Digital were deposited six months ago. No regular inflows have come to the known wallets of the mining operation since then. The…
Filed under: News - @ January 17, 2025 2:20 pm