Bhutan moves $237M in BTC to SegWit addresses, now holds $233M

An address believed to belong to the Bhutanese government recently moved 90 BTC, worth approximately $7 million, to a SegWit address, according to monitoring by Arkham. The move has led to market speculation about a potential transfer to a separate institution or a possible sale. On-chain data indicates that Bhutan has transferred a cumulative total of around $237 million in BTC to SegWit addresses this year, with its current holdings estimated at about $233 million.