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The Bhutan government is selling Bitcoin again. A few hours ago, they withdrew 175 BTC from their wallet, which is approximately $1.185 billion at current prices. This is interesting because a country like Bhutan is so active in crypto.
This is not the first time. Last month, they sold $700 million worth of Bitcoin through QCP Capital. It seems Bhutan's government is gradually liquidating its crypto holdings.
This move by Bhutan shows how small countries are beginning to see Bitcoin as a national asset. Such large transfers in the market can always bring some volatility, so it's important to keep an eye on it.