Government Bitcoin holdings have become a significant part of the crypto market. According to Bitwise, 13 governments collectively hold about $26.8 billion worth of Bitcoin, making them some of the largest institutional owners of the asset.
U.S. Holds Nearly Three Times More Than Others
The United States remains the world’s largest government Bitcoin holder, with 328,372 BTC worth nearly $19.8 billion, according to Bitwise.
Its holdings are almost three times larger than the combined Bitcoin reserves of the other 12 governments tracked in the report.
Most of the U.S. Bitcoin was acquired through criminal seizures, including assets linked to the Silk Road marketplace and the Bitfinex hack, rather than through direct purchases.
Which Countries Hold the Most Bitcoin?
After the United States, the largest government Bitcoin holders are:
- United States: 328,372 BTC
- China: 190,000 BTC
- United Kingdom: 61,245 BTC
- Ukraine: 46,351 BTC
- El Salvador: 7,734 BTC
- United Arab Emirates: 6,420 BTC
- Bhutan: 4,973 BTC
- Kazakhstan: 3,544 BTC
Smaller Bitcoin holdings are reported for Venezuela, Finland, and Taiwan, while Germany and Bulgaria currently hold no Bitcoin, according to Bitwise.
Overall, governments control about 619,463 BTC, equal to roughly 3% of Bitcoin’s circulating supply.
Seized Bitcoin vs Strategic Buying
Bitwise noted that governments acquired their Bitcoin through different approaches.
The United States primarily obtained its holdings through law enforcement seizures. These assets may eventually be sold through court-approved auctions and are generally treated as recovered property rather than strategic reserves.
By contrast, El Salvador has purchased Bitcoin as part of its national treasury strategy, making it one of the few governments to intentionally build a Bitcoin reserve.
Bitwise also noted that governments store Bitcoin in institutional custody solutions, while individual investors can choose between third-party custodians and self-custody wallets.
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