Arkham tracked Bhutan’s bitcoin holdings declining from about 13,000 BTC in October 2024 to 3,121 BTC. Druk Holding and Investments CEO Ujjwal Deep Dahal said he does not recall selling bitcoin in 2026, despite reports suggesting otherwise. Arkham reported that AI-labeled wallets tied to Bhutan remain unverified by government officials. Bhutan began mining bitcoin in early 2019, partnered with Bitdeer, and became a major nation-state holder. Before late 2024, details about which wallets held the coins and how they were managed were largely unknown outside Bhutan’s government and DHI. Arkham’s analytics identified wallets associated with Bhutan and highlighted movements that conflicted with the CEO’s statement.
"Arkham tracked Bhutan's BTC holdings falling from 13,000 BTC in Oct. 2024 to today's reported 3,121 BTC. DHI CEO Ujjwal Deep Dahal said in 2026 he does not recall Bhutan selling BTC. Arkham told Coindesk its AI-labeled wallets tied to Bhutan remain unverified by officials."
"I don't recall the last time we sold any BTC, the DHI executive explained. The Kingdom of Bhutan has quietly emerged as one of the more intriguing participants in the global digital asset sector. The nation mines bitcoin, and its entry into the industry began discreetly in early 2019, when BTC traded within a relatively modest range of $3,800 to $5,000."
"Enter Arkham Intelligence, a prominent blockchain analytics platform that functions like a digital detective agency for the crypto sector. Before late 2024, the broader public largely relied on rumors and high-level government disclosures suggesting the Kingdom of Bhutan was mining BTC. Outside of the Bhutanese government and Druk Holding and Investments (DHI), few knew which digital wallets held the coins, the scale of the holdings, or how the assets were being managed."
"Over the last year, several cryptocurrency news outlets, including Bitcoin.com News, have reported on Bhutan moving BTC to wallets at times labeled as exchanges and over-the-counter (OTC) desks. In October 2024, Bhutan held 13,000 BTC, according to Arkham's flagged wallets"
#bhutan #bitcoin-holdings #blockchain-analytics #druk-holding-and-investments #crypto-wallet-tracking
Read at news.bitcoin.com
Unable to calculate read time
Collection
[
|
...
]