The state of Bhutan continues to engage in Bitcoin transfers.

The data from the blockchain analysis platform Arkham reveals that Bhutan has potentially sold Bitcoin worth 100 million dollars in the last three months. The state treasury, overseen by Druk Holding & Investments, hosts the fifth largest Bitcoin reserve in the world.

33 MILLION DOLLAR BITCOIN TRANSFER FROM BHUTAN TREASURY TO BINANCE

Bhutan's cryptocurrency asset policy shows a remarkable shift. The country is known for its Bitcoin mining operations, which utilize hydroelectric power.

According to Bitcoin Treasuries data, Bhutan has the largest state Bitcoin reserve after the United States, China, the United Kingdom, and Ukraine. The country holds 12,206 BTC worth 1.12 billion dollars.

The recent transfer occurred during a controversial process sparked by U.S. presidential candidate Donald Trump's promise to create a national Bitcoin stock.

The only notable asset in the country's cryptocurrency holdings, apart from Bitcoin, is 656 Ethereum (2.1 million dollars).