Bhutan’s Secret Crypto Obsession: 213 Bitcoin Moved—Market Panic or Pro Move? 🤑

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If you went out for a coffee, you might have missed it: Bhutan’s government, previously known for its devotion to happiness and the strategic use of prayer flags, suddenly moved 213.5 Bitcoin to Binance. Given their tiny royal dinosaur population (possibly zero), one could ask—what are they doing with all that crypto?

For the record, 213.5 Bitcoin is worth about $23.75 million, which is just enough to buy 2.3 Bhutanese palaces (maybe) or one slightly used Lichtenstein.🐉🪙

BTC

$111,331

24h volatility:

2.2%

Market cap:

$2.21 T

Vol. 24h:

$35.77 B

Meanwhile, Bitcoin hit a new all-time high of $112,000, which means it’s now harder to buy one than it is to find a parking spot at an Apple Store. With every high, traders develop mild heart palpitations and grandiose expectations, apparently believing the next stop is $120K, maybe $150K, or, let’s be honest, the surface of Mars. And given these numbers, I’m expecting at least a commemorative postage stamp to be released in Satoshi’s honor any day now.

Bitcoin to Hit $120K or $150K: Because Why Not?

As a matter of suspense, the price pinged $112,000 on July 10, then dripped down to $111,218.88—almost enough digits for a phone number. Bhutan’s timely withdrawal set off blockchain sleuths everywhere, who presumably live in dark rooms and type things on keyboards with more RGB lights than sense. According to Arkham Intelligence (which is exactly how it sounds: cryptic, mysterious, unreal), Bhutan’s been playing a game of crypto whack-a-mole for two weeks. The rumor mill is spinning so fast, I’m expecting it to mint its own meme coin any second now.💸

Analysts are busy drawing things called “cup-and-handle” patterns on weekly charts, which just makes me picture them sitting in cafes, sipping overpriced lattes, and tracing doodles on napkins. Milk Road’s Kyle Reidhead hopped on X (which is apparently still a “thing”) to post, “See you at $150k.” A statement so optimistic, even Bhutanese monks would raise an eyebrow.

Some say the move is just profit-taking (a non-crime I deeply support) while others imagine it’s Bhutan’s way of funding their next big blockchain initiative—perhaps a happiness-index DAO? No one really knows. That, kids, is the actual utility of crypto: permanent confusion.

Bhutan’s Long, Strange Bitcoin Trip

In case you thought Bhutan just bought a little crypto, think again. They’re sitting on a billion-dollar Bitcoin pile, bigger than El Salvador’s and practically enough for a season on “Crypto Hoarders.” Companies like Metaplanet and Tesla are apparently their peers now, which probably makes for awkward conversation at world summits.

Flashback to February: Bhutan made headlines for shifting 751 BTC, more coins than it takes to launch your own off-brand stablecoin. The only difference back then was Bitcoin was taking a nap below $99K, and rumors still managed to fly faster than you can say “Deepak Chopra blockchain seminar.” Investors shrugged it off. And BTC itself was left consolidating, which is just finance-speak for “we have no idea what’s about to happen, but we’ll use fancy words so no one notices.”

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2025-07-10 22:35