Bhutans state-owned investment arm, Druk Holding and Investments (DHI), has been steadily liquidating the countrys Bitcoin holdings throughout early 2026, with on-chain data revealing roughly $42.5 million in outflows so far this year. The most recent move came late Monday when DHI transferred 175 BTC worth approximately $11.85 million to a wallet address that also received 184 BTC in February, pointing to a consistent treasury counterparty or OTC arrangement.