Druk Holding & Investments (DHI), the state-owned investment institution of the Kingdom of Bhutan, transferred 212.3 BTC ($23.6M) to Binance 2 hours ago.

Is the Kingdom of Bhutan preparing to sell some BTC? 🤔
Arkham marked the address of the Bhutanese state-owned investment institution Druk Holding & Investments (DHI), which transferred 137 BTC ($14.75M) to Binance 30 minutes ago.

The BTC held by the Kingdom of Bhutan is different from that held by other governments. Other governments' BTC is mostly sourced from law enforcement seizures/confiscations, while Bhutan's BTC is sourced from mining.
Currently, Bhutan holds 12,000 BTC through mining, valued at up to $1.3 billion. It is the third-largest BTC-holding government.