Bhutan’s sovereign investment arm, Druk Holding & Investments (DHI), moved approximately 319.7 BTC on April 9, 2026, a transfer valued at about $23 million that further reduces the country’s state-held bitcoin position. Following the transaction, the primary state-linked wallet’s balance stands at 3,954 BTC, extending a drawdown that began in 2025.
Latest Transfer Reduces State Holdings
DHI executed the 319.7 BTC transfer on Thursday, marking the latest step in a series of movements out of Bhutan’s bitcoin reserves over the past year. The wallet’s balance declined to 3,954 BTC after the move, reflecting continued portfolio adjustments by the sovereign investor.
Ongoing Drawdown Since 2025
The reduction continues a steady trimming of Bhutan’s bitcoin holdings that started in 2025. While the destination of the latest transfer was not disclosed, the pattern underscores a deliberate strategy to scale back exposure to the asset over time.
Why It Matters
- Market signal: State-linked bitcoin holdings are closely watched by market participants for potential liquidity and sentiment impacts.
- Sovereign portfolio management: The drawdown suggests active rebalancing by DHI amid evolving market conditions.
By the Numbers
- Amount moved: ~319.7 BTC
- Estimated value of transfer: ~$23 million (as of April 9, 2026)
- Post-transfer balance: 3,954 BTC