Bhutan's Bitcoin Holdings Under Scrutiny Amid Allegations of Sales

Bhutan, a small Asian country located in the Himalayas, has been at the center of cryptocurrency news recently due to allegations that its state-backed investment firm Druk Holding and Investments (DHI) was selling Bitcoin.

According to Arkham Intelligence data, approximately $1 billion worth of Bitcoin has been withdrawn from wallets reportedly belonging to Bhutan since July 2025. This figure is significant, especially considering Bhutan's official mining and holding of Bitcoin reserves.

Despite the allegations, DHI CEO Ujjwal Deep Dahal stated that he does not remember the last time they sold $BTC. The company also responded to questions about the wallet activity tracked by Arkham with a simple statement: 'Our statement remains valid; we have nothing further to add.'