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Bhutan transfers 107 million dollars in Bitcoin as whales stir after the Fed cuts interest rates.
The Royal Government of Bhutan has just transferred over 100 million USD in Bitcoin, raising concerns about selling pressure amid the Fed cutting interest rates for the first time in 2025. Specifically, the government-labeled wallet moved 913 BTC ( worth 107 million USD) to two new wallets, while still holding 9,652 BTC ( valued at over 1.1 billion USD). This move could signal a plan to sell, posing the risk of adding over 1 billion USD in supply to the market.
Previously, on August 18, this wallet transferred 92 million USD in BTC. Bhutan, under the leadership of King Jigme Khesar Namgyel Wangchuck, has ramped up cryptocurrency mining and accumulation, leveraging hydropower to mine Bitcoin.
Notably, at the same time, another “whale” transferred 116 million USD BTC after 12 years of inactivity, just before the FOMC announced cutting down the whales, increasing short-term volatility risk in the market.