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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bhutan-government-generates-revenue-by-selling-bitcoin/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bhutan Government Generates Revenue by Selling Bitcoin</a> 
The Royal Government of Bhutan has generated approximately 40 million dollars by selling 406 Bitcoin from its treasury reserves. This sale occurred during a period when Bitcoin prices are trying to reach new record levels.
<h2 id="bhutan-and-bitcoin-sales-strategy">Bhutan and Bitcoin Sales Strategy</h2>
According to data from Arkham Intelligence, the Bhutanese government transferred 406 BTC to QCP Capital. This move created significant buzz in the markets, with many speculating that it was a strategic selling decision.
The Bhutanese government still holds 11,791 Bitcoins in its treasury reserves, placing it among the top four largest Bitcoin holders globally. Based on the current Bitcoin price, the value of the country’s reserves is approximately 1.164 billion dollars.
The country has accumulated a substantial amount of BTC through its powerful hydro mining operations.
<h2 id="future-of-bitcoin-prices">Future of Bitcoin Prices</h2>
The price of Bitcoin is struggling to surpass the 100,000 dollar mark due to selling pressure from long-term investors. At the time of writing, Bitcoin was trading at 97,690 dollars, reflecting a 2.6% decline.
Analysts at QCP Capital maintain an optimistic outlook for Bitcoin for the year 2025.
Standard Chartered predicts that Bitcoin could reach 200,000 dollars by the end of 2025.
Increases in Bitcoin ETF entries and institutional purchases may contribute to price growth. The <a href="https://en.coin-turk.com/hashkey-exchange-integrates-travel-rule-and-focuses-on-binance-transactions/" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a><a href="https://en.coin-turk.com/cryptocurrencies-in-2022-a-challenging-year-turns-hopeful/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto</a> market awaits the upcoming U.S. Consumer Price Index (CPI) and Producer Price Index (PPI) data, which will play a crucial role in determining market direction.
The Bhutanese government’s Bitcoin sales indicate the success of its <a href="https://en.coin-turk.com/bitcoin-surges-past-57000-amid-trump-harris-debate/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a> strategy. Bhutan has previously stated that it would not accumulate more BTC, opting instead to sell its assets at attractive prices. This development suggests that other governments might take similar steps in digital asset management.
The post <a href="https://en.coin-turk.com/bhutan-government-generates-revenue-by-selling-bitcoin/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bhutan Government Generates Revenue by Selling Bitcoin</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

Bhutan Government Generates Revenue by Selling Bitcoin

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