Governments of nine countries hold Bitcoin worth $34 billion in controlled wallets, with major holders including the USA, UK, and China.
- USA holds the largest Bitcoin reserves at 213,246 BTC, valued at $13.9 billion.
- China follows with 190,000 BTC, largely from confiscated Ponzi schemes.
- The UK holds 61,000 BTC, mostly seized during criminal investigations.
- Ukraine’s Bitcoin reserves are valued at $3 billion, though data is not recently updated.
- El Salvador, unique for legalizing Bitcoin, holds 5,800 BTC, valued at $378 million.
Global Bitcoin Holdings by Governments
Governments of nine countries hold a total of 517,414 BTC, as reported by Bitcoin Treasuries. This amounts to approximately $33.8 billion. The largest holders among these countries include the United States, the United Kingdom, and China.
United States: The Largest Bitcoin Holder
The United States possesses the most significant Bitcoin reserves, totaling 213,246 BTC, which equates to $13.9 billion at the current exchange rate. A considerable portion of these assets were seized from the Silk Road darknet marketplace. Ross Ulbricht, the founder, was arrested on October 2, 2013, and sentenced to two life terms plus 40 years without parole in 2015. During his presidential campaign, Donald Trump promised to pardon Ulbricht if elected, claiming he has served enough time.
Additionally, the US government confiscated 95,000 BTC from Ilya Lichtenstein in January 2022, who was involved in the Bitfinex exchange hack. Lichtenstein admitted guilt and faces up to 20 years in prison.
China’s Significant Confiscations
China holds the second-largest Bitcoin reserves among governments with 190,000 BTC. These reserves are primarily from the Plus Token Ponzi scheme, which targeted users in China and South Korea. The authorities confiscated these assets in 2019, following the project’s fraudulent activities, which resulted in over $4 billion in stolen assets.
The United Kingdom’s Holdings
The United Kingdom ranks third, with 61,000 BTC seized during criminal investigations. In 2018, local authorities confiscated four devices containing Bitcoin from fraudsters involved in an investment scam in China, which caused losses of $5.6 billion. One individual was sentenced to 80 months in prison, with ongoing trials for other participants.
Ukraine’s Bitcoin Reserves
Ukraine is among the top holders, with Bitcoin reserves valued at $3 billion. However, the data from Bitcoin Treasuries is based on open sources and might not be up-to-date. Notably, the National Anti-Corruption Bureau of Ukraine (NABU) seized $1.5 million in crypto assets from former State Special Communications Service head Yuriy Shchyhol in December 2023. He is implicated in the theft of $1.7 million, with his wallet containing 1.2 million USDT, 331 TRX, and 6.9 BTC.
El Salvador’s Unique Position
El Salvador, which holds 5,800 BTC worth $378 million, stands out as the only country to recognize Bitcoin as legal tender. Despite criticism from the International Monetary Fund (IMF), the government has remained committed to Bitcoin adoption. In March 2023, El Salvador realized over $65 million in unrealized profits as Bitcoin surged to $69,000. President Nayib Bukele continues to champion widespread Bitcoin adoption, including laws granting citizenship for Bitcoin investments and the approval of “volcanic” Bitcoin bonds.
Other Countries
The remaining four countries—Bhutan, Venezuela, Finland, and Georgia—collectively hold 1,017 BTC, valued at $66.5 million. Germany recently liquidated nearly 50,000 BTC seized from the Movie2k pirated online resource creators, transferring over 40,000 BTC worth $2.2 billion to various exchanges within two weeks.
Overall, the involvement of these governments in holding significant Bitcoin reserves has broad implications for the cryptocurrency market, demonstrating the growing acceptance and regulatory interest in digital assets.
