As of January 2025, governments across the globe collectively hold around 471,000 Bitcoin (BTC), valued at over $16.37 billion. This represents 2.5% of the total Bitcoin supply. Governments are acquiring these assets through criminal seizures, strategic purchases, and even public donations, recognizing Bitcoin's potential as both a financial asset and a tool for economic modernization.
The top government holders of Bitcoin are:
- United States: The U.S. holds the largest government reserve with 212,000 BTC ($7.37 billion), primarily obtained from law enforcement actions against criminal operations like the Silk Road and the Bitfinex hack. The government's strategy involves auctioning off some of these holdings while keeping a significant portion for long-term storage and study.
- China: Despite its strict ban on crypto trading, China holds the second-largest reserve of 194,000 BTC ($6.74 billion). This was mainly seized from the PlusToken Ponzi scheme. China is choosing to hoard these assets instead of selling them, possibly as a hedge against the rising influence of digital currency.
- United Kingdom: The UK has accumulated 61,000 BTC ($2.12 billion) through its efforts to combat financial crimes, such as money laundering. The government has a policy of auctioning off its seized crypto to fund further law enforcement efforts.
- Bhutan: In a unique approach, Bhutan holds 13,029 BTC ($780 million), which it acquired through its government-sponsored Bitcoin mining operations powered by sustainable hydropower. This strategy aligns with the country's environmental commitments and makes its crypto portfolio equivalent to about 25% of its GDP.
- El Salvador: As the first country to adopt Bitcoin as legal tender, El Salvador has a holding of 5,800 BTC ($201 million). The government actively purchases Bitcoin to use for public infrastructure, economic development, and to promote financial inclusion through its Chivo Wallet program.
- Ukraine: Ukraine's reserve of 1,200 BTC ($41.7 million) is distinct, as it was primarily amassed through public donations to fund its defense against Russian aggression. These funds are actively used for both military and humanitarian efforts.
New Players and Market Influence
Some countries are newly entering the space: Finland, which holds 1,890 BTC ($65.6 million) from drug-trafficking seizures and uses the proceeds for social programs; and India, which confiscated 450 BTC ($15.6 million) from scams and is considering a national digital asset fund.
The management of these holdings has significant implications for the market. Large sales, like Germany's liquidation of its 46,359 BTC ($1.58 billion) in mid-2024, can cause price volatility, while purchases or retention can boost market confidence. This demonstrates that Bitcoin is evolving from a niche asset into a tool for geopolitical strategy and economic modernization, with governments playing an increasingly transparent and influential role.
August 2025, Cryptoniteuae