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Arkham’s on-chain data revealed that the Royal Government of Bhutan (Druk Holdings) deposited 367.26 BTC worth $33.51M into Binance two hours ago. The data showed that the Bhutanese government had transferred 6.954 BTC worth 634.53K to a wallet: T5CvdRzkeyi1Vj only an hour before the Binance deposit. However, the BTC was still unspent.
The on-chain data from Arkham showed that the Royal Government of Bhutan had been accumulating Bitcoin. According to data going back nearly a month, the Bhutanese government was on a BTC acquisition spree from miners Ant Pool and Foundry Digital. The data confirmed that the BTC accumulation was done in small quantities, ranging from less than 1 BTC to 10 BTC.&nbsp;
<h3 id="span-style-font-weight-400-the-royal-government-of-bhutan-transfers-millions-worth-of-btc-within-the-past-month-span">The Royal Government of Bhutan transfers millions worth of BTC within the past month</h3>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Just In: The Royal Government of Bhutan has deposited 367.26 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$BTC</a>, worth $33.51M, into <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#Binance</a>.
 – bc1qxkwp55us387thsxj3q2wk04j6auaqsdl7dupug (365 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$BTC</a>) – 3LbpsyosTDvq39WZmvJJAspSJmZ8uJMXf7 (2.26 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$BTC</a>) <a href="https://t.co/vPu3O4MteB" rel="noopener noreferrer nofollow" target="_blank">https://t.co/vPu3O4MteB</a> <a href="https://t.co/fYBLDqi2Pu" rel="noopener noreferrer nofollow" target="_blank">pic.twitter.com/fYBLDqi2Pu</a>
 — Onchain Lens (@OnchainLens) <a href="https://twitter.com/OnchainLens/status/1857038364186144805?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">November 14, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Information shared by Onchain Lens <a href="https://x.com/OnchainLens/status/1857038364186144805?s=19" rel="noopener noreferrer nofollow" target="_blank">stated</a> that the Bhutanese government had deposited 935 BTC worth $66.55 million to Binance on October 29th. Arkham’s on-chain data revealed that the Bhutanese government resumed moving part of its BTC holdings to the Binance exchange and unknown wallets three weeks ago.&nbsp;
The most recent transfer data, going back three weeks, showed that the Bhutanese government first moved 1.402 BTC worth over $94K (currently ~$128K) to a wallet: UDzRhzqLLN. The data revealed that it then moved 194.011 BTC worth $13 million between its own wallets within the same period.
Arkham’s on-chain data from two weeks ago revealed that Bhutan’s government had transferred 4.683 BTC valued at over $332K within its own wallets. The data then showed that the Royal Government of Bhutan deposited 102.782 BTC and 832.249 BTC, valued at $7.3 million and $59.24 million, respectively, to Binance, also two weeks ago.&nbsp;
<h3 id="span-style-font-weight-400-on-chain-data-reveals-the-bhutan-s-diversified-crypto-portfolio-span">On-chain data reveals the Bhutan’s diversified crypto portfolio&nbsp;</h3>
Arkham’s on-chain data confirmed that the Royal Government of Bhutan had diversified its crypto investments. In addition to the over 12K BTC valued at over $1 billion, the data showed that Bhutan’s holdings also included 656.039 ETH worth $2.09 million. According to Arkham’s data, Bhutan’s government also holds 1 million APU and 8.889 million KIBSHI, valued at $1.24K and $201.60. The data showed that the Bhutanese government also held 69 million BOBO worth $126.&nbsp;
The other small holdings include 53.569 SAND worth $15.03, 23.505 MATIC worth $8.79, 0.006 BNB worth $3.75, 1 BIM worth $1.14, 500K INS worth $0.51 and 0.01 USDT worth $0.01.&nbsp;
Over the past month, Arkham’s on-chain data showed that Bhutan’s government had acquired the 69 million BOBO valued at $78.66 from a wallet: A49FBDC4bB. The data also showed that the Bhutanese government had acquired slightly over 228 ETH through Kraken, then deposited all of it to Binance on the same day a month ago.&nbsp;
According to the data, other acquisitions include the 8.889 KIBSHI worth $90.67 received from aimemecoin.eth (0x1dC) two weeks ago. The Bhutanese government bought the 1 million APU from a wallet: F2d44D10a0d0E8c only two days ago.

The Royal Government of Bhutan deposits 367.26 BTC, worth $33.51M, into Binance; are they dumping?

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