Another Big Bitcoin Deposit: Bhutan Transfers 100.215 BTC to Binance Amid the Crypto Market Spike

Bhutan has added 100.215 Bitcoin, worth about 11.83 million dollars at the current rates, to the Binance. This recent transfer serves to highlight the active control that Bhutan has had over its proposed national Bitcoin hodlings and is in contrast to the German government’s selling of the tokens at non-peak prices one year ago.

The Royal Government of #Bhutan deposited another 100.215 $BTC($11.83M) to #Binance 20 minutes ago.

In the past year, #Bhutan has sold 2,262 $BTC ($200.46M) across 6 batches at an average price of $88,612 and still holds 11,611 $BTC($1.37B).

The #German government sold all… pic.twitter.com/3xq94RXMWD

— Lookonchain (@lookonchain) July 11, 2025

Bhutan’s Strategic Bitcoin Management

Over the last 12 months, Bhutan has consistently sold several batches of 2,262 BTC each and received approximately 200.46 million dollars on average for each sale, resulting in an initial price of 88,612 dollars per coin. 

Bhutan currently holds 11,611 BTC, which is worth $1.37 billion. By sending the recent tranche of 100.215 BTC into the Binance exchange, Bhutan expresses its intention to create a rebalancing of the reserves and take advantage of the market.

Crypto management in the kingdom can be considered a wise strategy of cashing in smaller positions but keeping some in reserve to retain long-term value.

Such a moderate approach has enabled Bhutan to enjoy the long-term bull run but has made the state avoid being overexposed to the downside.

The Lost Chance by Germany

By a sharp contrast, the German government decided to sell its entire holding of Bitcoin (49858 BTC at an average price of $57600) between June 19 and July 12, 2024. 

The amount at the point of sale came to about 2.87 billion dollars. At the current prices, the value of Bitcoin in Germany would have been approximately 5.9 billion dollars.

The entire selling-off of Germany shows the danger of market timing and the costs of total liquidation. In the meantime, Bhutan selectively reduced its exposure while saving a substantial stake, demonstrating that a tiered exit strategy was beneficial in this case because it realized gains and still maintained some level of exposure to future growth.

Possible Consequences of Sovereign Bitcoin Treasuries

The recent deposit made by Bhutan and the general concept of managing crypto by this sovereign entity can serve as an example to countries that think of a digital asset strategy. 

Through the mix of profits and reserves, Bhutan has accumulated an investment treasury worth 1.37 percent, ready to drive the current market cycles. 

Meanwhile, Germany’s example illustrates the beneficial opportunities that can be lost by closing trades too soon.

With an increasing number of governments considering the use of Bitcoin in national treasuries on the one hand and the emergence of significant risks associated with storing value in Bitcoin on the other, the low-key approach of Bhutan could prove to be the model of creating long-term benefits with short-term profit taking.