Arkham flags Bhutan-linked wallets falling from ~13,000 BTC to 3,121 BTC; DHI CEO says he doesn't recall selling
first published 2026-05-16T19:25:21Z
Arkham Intelligence's on-chain analysis labeled wallets it associates with Bhutan as holding ~13,000 BTC in October 2024 and just 3,121.22 BTC today. Druk Holding and Investments (DHI) CEO Ujjwal Deep Dahal told CoinDesk he does not recall selling bitcoin this year and noted increased hydropower-enabled mining from heavy rainfall. Arkham says its labels use public data, AI and machine learning but were not independently verified with Bhutanese officials, leaving the discrepancy unresolved.
AI Analysis
Arkham reports a large drop in holdings (≈13,000 BTC → 3,121.22 BTC), which could imply significant on-chain movement; DHI's CEO denies recollection of sales; Arkham's labels were produced via public data/AI and were not independently verified, so the situation is unresolved.
Expected Investor Sentiment: Neutral
Potential Market Impact: Significant
