{"id":157753,"date":"2026-03-25T15:00:00","date_gmt":"2026-03-25T15:00:00","guid":{"rendered":"https:\/\/cryptonews.com\/br\/noticias\/butao-continua-liquidacao-de-bitcoin-com-transferencia-de-37-milhoes-de-usd-para-a-binance\/"},"modified":"2026-03-25T14:43:43","modified_gmt":"2026-03-25T14:43:43","slug":"butao-continua-liquidacao-de-bitcoin-com-transferencia-de-37-milhoes-de-usd-para-a-binance","status":"publish","type":"post","link":"https:\/\/cryptonews.com\/br\/noticias\/butao-continua-liquidacao-de-bitcoin-com-transferencia-de-37-milhoes-de-usd-para-a-binance\/","title":{"rendered":"But\u00e3o continua liquida\u00e7\u00e3o de Bitcoin com transfer\u00eancia de 37 milh\u00f5es de USD para a Binance"},"content":{"rendered":"<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"585\" src=\"https:\/\/cimg.co\/wp-content\/uploads\/sites\/13\/2026\/03\/25122837\/featured-image-178-1-1024x585.webp\" alt=\"\" class=\"wp-image-157756\" srcset=\"https:\/\/cimg.co\/wp-content\/uploads\/sites\/13\/2026\/03\/25122837\/featured-image-178-1-1024x585.webp 1024w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/13\/2026\/03\/25122837\/featured-image-178-1-300x171.webp 300w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/13\/2026\/03\/25122837\/featured-image-178-1-768x439.webp 768w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/13\/2026\/03\/25122837\/featured-image-178-1-1536x878.webp 1536w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/13\/2026\/03\/25122837\/featured-image-178-1-450x257.webp 450w, https:\/\/cimg.co\/wp-content\/uploads\/sites\/13\/2026\/03\/25122837\/featured-image-178-1.webp 1792w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"><\/figure><p class=\"wp-block-paragraph\">O But\u00e3o est\u00e1 vendendo Bitcoin novamente. O Governo Real transferiu 519,7 BTC, avaliados em aproximadamente 36,75 milh\u00f5es de USD, para um endere\u00e7o de dep\u00f3sito da Binance nesta quarta-feira. O movimento partiu da Druk Holding and Investments, o fundo soberano da na\u00e7\u00e3o, e segue um padr\u00e3o consistente de sa\u00eddas que j\u00e1 dura meses.<\/p><p class=\"wp-block-paragraph\">A reserva restante agora soma 4.453 BTC. Trata-se de uma queda acentuada em rela\u00e7\u00e3o ao pico de mais de 13.000 BTC. Mais de dois ter\u00e7os da posi\u00e7\u00e3o j\u00e1 foram liquidados.<\/p><div class=\"su-note\" style=\"border: 1px solid #e0d5e5;border-radius: 5px;margin: 20px 0;background-color: #faefff;color: #333333;padding: 20px\"><strong>Principais conclus\u00f5es:<\/strong>\n<ul>\n<li><strong>A transa\u00e7\u00e3o:<\/strong> A Druk Holding moveu 519,7 BTC para carteiras vinculadas a exchanges, incluindo Binance e QCP Capital.<\/li>\n<li><strong>A tend\u00eancia:<\/strong> As participa\u00e7\u00f5es soberanas ca\u00edram mais de 60% desde o pico de outubro de 2024, chegando a cerca de 4.450 BTC.<\/li>\n<li><strong>O sinal:<\/strong> O invent\u00e1rio soberano est\u00e1 sendo convertido em oferta l\u00edquida em tranches constantes de 30 milh\u00f5es a 70 milh\u00f5es de USD.<\/li>\n<\/ul>\n<\/div><h2 class=\"wp-block-heading\">A transfer\u00eancia: confirma\u00e7\u00e3o on-chain<\/h2><span class=\"replacer\"><\/span><p class=\"wp-block-paragraph\">Dados da <a href=\"https:\/\/platform.arkhamintelligence.com\/explorer\/entity\/bhutan\" target=\"_blank\" rel=\"noreferrer noopener\">Arkham Intelligence<\/a> identificam a movimenta\u00e7\u00e3o como uma transa\u00e7\u00e3o dividida.<\/p><p class=\"wp-block-paragraph\">Os fundos foram roteados para duas carteiras distintas: uma associada \u00e0 empresa de trading QCP Capital e outra alimentando diretamente os fluxos de entrada da Binance.<\/p><figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/cimg.co\/p\/no_image.svg\" alt=\"\" class=\"wp-image-491565 lazyload\" data-src=\"https:\/\/cimg.co\/wp-content\/uploads\/2026\/03\/25093518\/image-204-1-1024x528.jpg\" data-srcset=\"\"><\/figure><p class=\"wp-block-paragraph\">Transfer\u00eancias diretas para endere\u00e7os de dep\u00f3sito de exchanges normalmente sinalizam uma inten\u00e7\u00e3o imediata de venda ou de uso de ativos como colateral, em vez de uma simples rota\u00e7\u00e3o de cust\u00f3dia.<\/p><p class=\"wp-block-paragraph\">Trata-se de um evento de liquidez. O mercado presenciou isso repetidamente nas \u00faltimas semanas, incluindo uma sa\u00edda de 72 milh\u00f5es de USD na semana passada e uma tranche de 12 milh\u00f5es de USD no in\u00edcio do m\u00eas. A Druk Holding est\u00e1 reduzindo sua exposi\u00e7\u00e3o m\u00e9dia enquanto os pre\u00e7os oscilam perto de 71.100 USD. Embora alguns analistas debatam o motivo exato, o destino <a href=\"https:\/\/www.theblock.co\/post\/394986\/bhutan-moves-37-million-worth-bitcoin\" target=\"_blank\" rel=\"noreferrer noopener\">desses fundos sugere<\/a> uma realiza\u00e7\u00e3o de lucros ativa, e n\u00e3o um reposicionamento de longo prazo.<\/p><h2 class=\"wp-block-heading\">A estrat\u00e9gia: da minera\u00e7\u00e3o para a monetiza\u00e7\u00e3o<\/h2><span class=\"replacer\"><\/span><p class=\"wp-block-paragraph\">As reservas de Bitcoin do But\u00e3o n\u00e3o foram compradas no mercado aberto como ativos institucionais t\u00edpicos. Elas foram geradas atrav\u00e9s de opera\u00e7\u00f5es de minera\u00e7\u00e3o de Bitcoin em escala industrial, utilizando os recursos de energia hidrel\u00e9trica renov\u00e1vel do pa\u00eds.<\/p><p class=\"wp-block-paragraph\">Isso confere \u00e0 Druk Holding um custo de aquisi\u00e7\u00e3o efetivamente zero (excluindo o CAPEX de infraestrutura), tornando essas vendas de BTC soberanas uma pura realiza\u00e7\u00e3o de lucro para o tesouro estatal.<\/p><figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/cimg.co\/p\/no_image.svg\" alt=\"\" class=\"wp-image-491567 lazyload\" data-src=\"https:\/\/cimg.co\/wp-content\/uploads\/2026\/03\/25093609\/image-204-2-1024x622.jpg\" data-srcset=\"\"><figcaption class=\"wp-element-caption\">Fonte: <a href=\"https:\/\/intel.arkm.com\/explorer\/entity\/druk-holding-investments\" target=\"_blank\" rel=\"noreferrer noopener\">Arkham<\/a><\/figcaption><\/figure><p class=\"wp-block-paragraph\">A estrat\u00e9gia mudou. De 2022 at\u00e9 o final de 2024, o But\u00e3o foi um acumulador l\u00edquido. Agora, o estado atua como um vendedor disciplinado.<\/p><p class=\"wp-block-paragraph\">Ao contr\u00e1rio de El Salvador, que continua comprando, o But\u00e3o est\u00e1 monetizando seu excedente digital para financiar iniciativas dom\u00e9sticas. Analistas veem isso como uma rota\u00e7\u00e3o de capital que provavelmente financiar\u00e1 o projeto de infraestrutura Gelephu Mindfulness City.<\/p><p class=\"wp-block-paragraph\">Enquanto <a href=\"https:\/\/cryptonews.com\/news\/bitcoin-price-prediction-gold-reverse-roles-safe-haven-analyst\/\" target=\"_blank\" rel=\"noreferrer noopener\">o Bitcoin e o ouro invertem pap\u00e9is<\/a> na conversa macroecon\u00f4mica mais ampla, o But\u00e3o trata sua reserva de BTC estritamente como uma conta de capital de giro.<\/p><p class=\"wp-block-paragraph\">Os mercados est\u00e3o absorvendo a oferta. Apesar da press\u00e3o de venda persistente do But\u00e3o, o Bitcoin permanece resiliente, <a href=\"https:\/\/cryptonews.com\/news\/btc-usd-volatility-signals-and-bottom\/\" target=\"_blank\" rel=\"noreferrer noopener\">sendo negociado com sinais de volatilidade<\/a> que sugerem uma forte absor\u00e7\u00e3o pela demanda. A carteira da Druk Holding \u00e9 agora um vetor conhecido do lado vendedor. Trata-se de um desinvestimento organizado. O tesouro est\u00e1 liquidando conforme o mercado ganha for\u00e7a.<\/p>","protected":false},"excerpt":{"rendered":"<p>But\u00e3o vende 37 milh\u00f5es de USD em BTC via transfer\u00eancia para a Binance<\/p>\n","protected":false},"author":780,"featured_media":157750,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6],"tags":[187,103],"editores":[534],"sponsored_companies":[],"class_list":["post-157753","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-binance","tag-bitcoin","editores-cryptonews"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>But\u00e3o continua liquida\u00e7\u00e3o de Bitcoin com transfer\u00eancia de 37 milh\u00f5es de USD para a Binance<\/title>\n<meta name=\"description\" content=\"But\u00e3o vende 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