Bhutan ‘doesn’t recall’ selling any bitcoin, disputing widely-tracked $1 billion BTC drawdown
Arkham Intelligence data shows that over $1 billion in bitcoin has left wallets attributed to Bhutan in the past year, flowing to exchanges and trading firms. The country says it has not sold any....
Key takeaways
- 1Arkham Intelligence tracked over $1 billion in bitcoin leaving Bhutan-attributed wallets to exchanges in the past year.
- 2Bhutan's government denies selling any bitcoin, creating discrepancy with on-chain tracking data.
- 3Bitcoin movements went to exchanges and trading firms, suggesting potential sales despite official denial.
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Why it matters
This dispute highlights transparency issues in crypto tracking and sovereign holdings, affecting market sentiment about large bitcoin transfers. For Indian investors, it underscores how major holders' sales or transfers can impact BTC prices and market volatility.
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