Bhutan government off-loading 400++ BTC

[Jating]

It looks like Bhutan is offloading some of it's BTC holdings currently to QCPCapital.

Biography
Established in 2017, QCP Capital is a full suite crypto trading firm and global market leader in options, headquartered in Singapore. With deep multi-cycle experience, QCP Capital unlocks new opportunities for clients at the forefront of crypto capital markets through providing institutional-grade liquidity, infrastructure and research. An active early-stage crypto and blockchain investor, QCP Capital’s portfolio includes core trading infrastructure, exchanges, data and token ecosystems. QCP Capital’s insights cover weekly trading updates, monthly and quarterly views, and can be accessed on our Telegram, Twitter, LinkedIn page and more. More information can be found at qcp.capital.

https://coinmarketcap.com/academy/author/qcp-capital

So more likely, Bhutan government transferring that huge amount to them might hint of a big sell off to take profits.

But still though, they have a lot of holdings, around 11,688 in BTC as of this writing.



https://intel.arkm.com/explorer/entity/druk-holding-investments

And perhaps they are selling to fund government projects. So it makes sense to sell near $100k'ish.

[Azharul]

 I think that you also create a best comment in your post. Because i believe that bhutan government wanted to hold BTC for best profit. So i believe that it also be a great decision for bhutan government. Because if we follow in cryptocurrency market, we can see that bitcoin price is increase day by day. So if bitcoin price will increase gradually then i believe that bhutan government decision is very prefer for crypto currency market. Because i think that it will be best benefited for there country.

[Baofeng]

I think that you also create a best comment in your post. Because i believe that bhutan government wanted to hold BTC for best profit. So i believe that it also be a great decision for bhutan government. Because if we follow in cryptocurrency market, we can see that bitcoin price is increase day by day. So if bitcoin price will increase gradually then i believe that bhutan government decision is very prefer for crypto currency market. Because i think that it will be best benefited for there country.

Yeah, for us to sell, we will take that profits and used it to somewhere else. And that could be the main reason for the government of Bhutan to offload 400 Bitcoin. But that is still small numbers as they still have a huge stockpile of Bitcoin and I do not think that they might sell it again.

For now, they will continue to mine, and with that, they will still going to accumulate those Bitcoin that they've sold this day. So I guess nothing has change for them, get the profits and then later get it back, win-win situation.

[hugeblack]

I don't think it's related to bitcoin hitting $100k, I did a little research on previous sales and found ---> November 1, 2024 Government Of Bhutan Sells $60M Off Its $900M Bitcoin, As Vietnam Launches National Blockchain^[1]
And here's another news on December 9 Bhutan Government Moves Fresh 502 BTC Worth $49M+ to Binance, QCP Capital^[2]
So they are probably selling 500 bitcoins every two weeks or every month.


[1] https://www.tekedia.com/government-of-bhutan-sells-60m-off-its-900m-bitcoin-as-vietnam-launches-national-blockchain-strategy/
[2] https://thecryptobasic.com/2024/12/09/bhutan-government-moves-fresh-502-btc-worth-49m-to-binance-qcp-capital/

[bitterguy28]

no one but them would know why we can sit here and speculate but we would never come to a conclusion unless they tell us themselves maybe like us they are also just taking profits or maybe they don’t really have any intention to sell

anyway i hope that no investor takes this as a bad sign like a lot of beginners do this is not a sign for panic they still hold a lot and seems to still appear as interested and involved with bitcoin

[hugeblack]

anyway i hope that no investor takes this as a bad sign like a lot of beginners do this is not a sign for panic they still hold a lot and seems to still appear as interested and involved with bitcoin

They didn't do this for the first time, it's been happening for months now, so it's not a panic. a government that invested and bought 1,000 bitcoins can't panic like beginners do, or there can't be an advisory board that has access to more information than we can know.

[Bobcrypto]

It looks like Bhutan is offloading some of it's BTC holdings currently to QCPCapital.

Biography
Established in 2017, QCP Capital is a full suite crypto trading firm and global market leader in options, headquartered in Singapore. With deep multi-cycle experience, QCP Capital unlocks new opportunities for clients at the forefront of crypto capital markets through providing institutional-grade liquidity, infrastructure and research. An active early-stage crypto and blockchain investor, QCP Capital’s portfolio includes core trading infrastructure, exchanges, data and token ecosystems. QCP Capital’s insights cover weekly trading updates, monthly and quarterly views, and can be accessed on our Telegram, Twitter, LinkedIn page and more. More information can be found at qcp.capital.

https://coinmarketcap.com/academy/author/qcp-capital

So more likely, Bhutan government transferring that huge amount to them might hint of a big sell off to take profits.

But still though, they have a lot of holdings, around 11,688 in BTC as of this writing.



https://intel.arkm.com/explorer/entity/druk-holding-investments

And perhaps they are selling to fund government projects. So it makes sense to sell near $100k'ish.

Selling at $100k could depends on the price they actually started Holding or when they bought. If they are selling at current price renge of $97k to $100k is up to them.
Moreover, it make a bigger sence to Hold for longer time in the future, or to sell above the new All Time High, even a possible plans to sell at $150k or more make sense too.

[Mr. Magkaisa]

         -      You know Bhutan is not a big country but they are very resourceful, and I can also say that they have not closed their eyes and minds to the opportunity that bitcoin can give them, really thumbs-up whoever their government officials are who are managing their territory.

And from what I see, it is likely that other countries that are bigger than Bhutan have a high chance of imitating or copying the steps taken by Bhutan in holding or buying bitcoin to accumulate it. It really made sense the decision they made.

[Zed0X]

Good call I guess. It's a country I rarely hear or read about when it comes to international news but the additional Government funds from trading BTC could help boost their 'status' or influence in Asia and the rest of the world. Perhaps they could come close to India.

[Aanuoluwatofunmi]

There is more to discover about Bhutan in the coming time, because after its first discovery of bitcoin mining long existing in operations, there have been more about it that has been coming to light to the people, such could be about it holding capacity, the wallet transaction as we have here and other activities undergoing on within its capacity, there is more to still get form Bhutan with time.

[0t3p0t]

Well yeah this is the best time to take profit or whatever they are trying to do with that Bitcoin they withdrawn it was perfect time and if that is for projects and stuff that will be remembered by the Bitcoin community and the people of Bhutan.

[TomPluz]

So more likely, Bhutan government transferring that huge amount to them might hint of a big sell off to take profits. But still though, they have a lot of holdings, around 11,688 in BTC as of this writing.

The government of Bhutan is just taking advantage of the good price of Bitcoin to sell a small portion of what they are holding and I am sure this is not something to be alarmed at all. Surely, they might be thinking of funding something for the good of the people. Good to see Bhutan getting the benefits of investing with Bitcoin and I am looking forward to one day really visit this very beautiful place and experience its great culture.

[robelneo]

That's the right strategy: buy low, then sell high, but don't sell everything and allocate an amount from the profit when there's a dip. The Bhutan government understands how the market works; they need to sell to enjoy the profit while at the same time looking for entry when the market experiences a dip or correction.
How I wish our government would do the same strategy the Bhutan government is doing; its not to late to do it now.

[ZAINmalik75]

So more likely, Bhutan government transferring that huge amount to them might hint of a big sell off to take profits.

But still though, they have a lot of holdings, around 11,688 in BTC as of this writing.



https://intel.arkm.com/explorer/entity/druk-holding-investments

And perhaps they are selling to fund government projects. So it makes sense to sell near $100k'ish.

Why does the Bhutan government have these BTC did they seize them or invest in them? The amount is not big so it won't matter but if Bhutan also planned to sell to will USA then collectively market can fluctuate for a short period and then it will recover from this too.

Last time Germany and MT Gox started their activities at the same time and the market was dumped this time maybe Bhutan Government and SilkRoads funds are activated at the same time.

[PX-Z]

Why does the Bhutan government have these BTC did they seize them or invest in them?

It's from the mining business started on early 2019 where bitcoin is something like $5k. That amount has already doubled multiple times and gained profit by several hundred percent.

Check article from Forbes: https://www.forbes.com/sites/digital-assets/2024/09/17/how-bhutan-quietly-built-750-million-in-bitcoin-holdings/