Who Owns the Most Government Bitcoin Holdings in 2025? Top 9 Players Revealed

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As of January 2025, governments around the world collectively hold approximately 471,000 Bitcoin (BTC), a staggering 2.5% of the total Bitcoin supply. With the current market price sitting at $34,750 per Bitcoin, this amounts to a mind-blowing $16.37 billion. But how did these governments come to own such vast amounts of Bitcoin?

Governments have acquired Bitcoin in various ways, including criminal asset seizures, strategic purchases, and public donations. Increasingly, they are exploring how to use Bitcoin as both a financial asset and a tool for modernizing economic systems.

Top Government Bitcoin Holdings in 2025

1. United States

The U.S. holds the largest government Bitcoin reserve, mostly obtained through enforcement actions against cybercriminals and dark web markets.

• Bitcoin Holdings: 212,000 BTC
• Approximate Value: $7.37 billion

Accumulation Source:

• Silk Road shutdown that led to the seizure of 69,370 BTC.
• Bitfinex hack case where the government recovered 94,636 BTC from hackers in 2022.
• Jimmy Zhong’s arrest in 2022 where 50,676 BTC were seized.

Current Status: The U.S. typically auctions off part of its holdings, while retaining a significant portion for long-term storage or study. These actions can influence the market, as past sales have affected Bitcoin prices.

2. China

China holds the second-largest Bitcoin reserve, thanks to its crackdown on fraudulent schemes.

• Bitcoin Reserves: 194,000 BTC
• Estimated Worth: $6.74 billion

Accumulation Source: China’s Bitcoin was mainly acquired through the PlusToken Ponzi Scheme, where the scam made off with more than $2 billion in Bitcoins and Ethers.

Current Status: Although it has banned all crypto trading activities, China is keeping its confiscated Bitcoin rather than liquidating it and may be hoarding it to hedge against the continued rise of digital currency as a global currency.

3. United Kingdom

Due to the forceful effort to curb financial crimes related to using digital assets, the United Kingdom has become one of the leading powers.

• Bitcoin Holdings: 61,000 BTC
• Estimated Worth: About $2.12 billion in value

Accumulation Source: Bitcoin seized from illegal money laundering and fraud activities, including cases related to Chinese operators running illegal exchanges.

Current Status: The UK government often auctions seized Bitcoin, using the proceeds to fund law enforcement efforts.

4. Bhutan

Bhutan now accounts for the sum of 13,029 BTC which is worth over $780 million, being considered the world’s fourth biggest state Bitcoin owner. This portfolio in terms of shares makes it equate to about 25% of Bhutan’s GDP, where the big BTC reserve reflects this distinct approach from other countries integrating crypto into national economics.

• Bitcoin Holdings: 13,029 BTC
• Estimated Worth: $780 million.

Accumulation Source: Unlike other governments that are acquiring Bitcoin by seizure or purchase, Bhutan acquired its Bitcoin from its investment in Bitcoin mining with the use of its vast, sustainable hydropower resources.

Current Status: It is a greener strategy as it supports the country’s policy of more extensive renewable energy commitments, which has placed Bhutan at the centre of the fast-emerging area of cryptocurrency and environmental sustainability.

5. El Salvador

El Salvador made history as the first country to adopt Bitcoin as legal tender. Its Bitcoin holdings are actively being purchased as part of a broader national strategy.

• Bitcoin Holdings: 5,800 BTC
• Approx. Value: $201 million

Accumulation Source: Purchased as part of the country’s Bitcoin adoption plan, including the “1 Bitcoin per Day” program launched in late 2022.

Current Status: Bitcoin is used for various purposes in El Salvador, including funding infrastructure development and promoting financial inclusion through the Chivo Wallet.

6. Ukraine

Ukraine’s Bitcoin holdings are primarily sourced from public donations during the ongoing conflict with Russia.

• Bitcoin Reserves: 1,200 BTC
• Estimated Value: $41.7 million

Accumulation Source: In February 2022, the Ukrainian government made its Bitcoin wallet addresses public on social media and sought donations to supplement its military’s funding. Many people and institutions from all over the world donated to this effort.

Current Status: Despite the government taking in more than 1,300 BTC, the active utilization of these funds for humanitarian and military purposes has resulted in 1,200 BTC being set aside.

7. Germany

Germany has been known to confiscate large amounts of Bitcoin from cybercrime operations. As of January 2025, however, the country no longer maintains any Bitcoin reserves.

• Previous Balance: 46,359 BTC
• Liquidation Value: $1.58 billion

Source: Seizures of bitcoins from online piracy sites and dark web activities.

Present Situation: In mid-2024, Germany sold its entire Bitcoin, which caused its market value to depreciate by 15%.

Newly Emerging Players In 2025

1. Finland

Finland gained publicity after it confiscated 1,890 BTC in some cases of narco-trafficking.

• Number of Bitcoins Owned: 1,890 BTC
• Estimated Value: $65.6 million

Policy: Finland used part of the Bitcoin proceeds to finance social programs, thus being pragmatic in its use of the digital asset’s revenue.

2. India

India confiscated 450 BTC in 2024 as part of a crackdown on crypto-related scams.

• Bitcoin Holdings: 450 BTC
• Estimated Value: $15.6 million

Future Potential: The Indian government is considering incorporating confiscated Bitcoin into its economic development policies, and talks are still being held regarding the establishment of a national digital asset fund.

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• Also Read :
•   Crypto Adoption Index 2024: US Ownership Hits 40%, Market Cap Soars
•   ,

Bitcoin’s Growing Role in Geopolitics and Financial Strategy

Governments holding large amounts of Bitcoin have significant influence over the cryptocurrency market. Liquidations, such as Germany’s 2024 sale, can trigger price fluctuations, while announcements of acquisitions or retention may boost market confidence.

Bitcoin is increasingly being seen as a tool for geopolitical strategy. Countries like El Salvador and Ukraine are using it for economic development and wartime funding, while larger economies like the U.S. and China are using their holdings to manage illegal activities and regulate the digital asset market.

Governments’ involvement in Bitcoin reflects the intersection of law enforcement, financial strategy, and technological advancement.

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FAQs

Which country has the most Bitcoin holders?

The United States holds the most Bitcoin among governments, with 212,000 BTC worth $7.37 billion, seized from criminal activities.

Who is the largest corporate Bitcoin holder?

MicroStrategy is the largest corporate Bitcoin holder, owning over 450,000 BTC as of January 2025, valued at more than $46.35 billion.

Who is the actual owner of Bitcoin?

Bitcoin was created by an anonymous entity, Satoshi Nakamoto, in 2009. The true identity behind the name remains unknown.