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Bhutan transferred about 175 Bitcoin worth roughly $12 million on Monday, pushing the total value of government-related Bitcoin movements this year to more than $42 million, according<\/a> to blockchain analytics platform Arkham.<\/p>\n The transfer came from one of the country\u2019s primary holding wallets as Bitcoin traded near $68,500.<\/p>\n Arkham said<\/a> Bhutan periodically moves Bitcoin in smaller clips of roughly $5 million to $10 million, with the most recent transfer following a similar move about a month ago when the government sold roughly $7 million worth of BTC through QCP Capital.<\/p>\n Despite the transfers, Bhutan remains one of the largest sovereign Bitcoin holders, ranking seventh<\/a> among countries with Bitcoin treasuries. The government currently holds around 5,425 BTC valued at approximately $372 million.<\/p>\n Disclosure:<\/strong> This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy<\/a>.\n <\/p>\n<\/p><\/div>\n