As of Q1 2025, the government collectively holds over 463,741 BTC, representing approximately 2.3% of Bitcoin’s total supply. This marks a slight decrease from 529,591 BTC reported in July 2024. With the current price per bitcoin estimated at $1,04,330.90, the market has reached billions of dollars.
The Kingdom of Bhutan and El Salvador are some of the biggest crypto-holding governments, accumulated by harnessing the abundant hydropower resources to mine Bitcoin and purchase Bitcoin.
This chart shows updated results from April 2025.
Rank | Country | Bitcoin Holdings/ USD |
1 | UAE | 420,000 BTC / $44.6 billion (rumored) |
2 | US | 98,012 BTC/ $18.3 billion |
3 | China | 194,000 BTC / $17.6 billion (estimated) |
4 | UK | 61,245 BTC / $6.52 billion |
5 | Ukraine | 46,351 BTC / $4.93 billion (estimated) |
6 | Bhutan | 12,062 BTC / $1.28 billion |
7 | El Salvador | 6,210 BTC / $659.78 million |
8 | North Korea | 1,927 BTC / $205.29 million |
9 | Venezuela | 240 BTC / $25.5 million (estimated) |
10 | Finland | 90 BTC / $9.56 million (estimated) |
The UAE is rumored to have 420,000 Bitcoins worth $44.6 million. It is said to have more than double of US holdings; the credibility of these claims was added by former Binance CEO, Changpeng Zhao, on X.
However, the exact figure is currently uncertain.
As of April 2025, the United States holds one of the largest bitcoin reserves, which they have obtained through law enforcement action against cybercrime and fraud.
Accumulation Source:
Forfeiture Fund.
Despite banning private ownership of Bitcoin and other cryptocurrencies, the Chinese government owns a significant amount of Bitcoin.
Accumulation source:
Recently, the UK has surpassed all countries in crypto adoption as the country manages to hold one of the largest Bitcoin reserves.
Accumulation source:
Ukraine had one of the highest crypto adoption rates in 2024, as it ranked sixth globally. The government has shown keen interest in Bitcoin and is currently planning to include Bitcoin and other digital assets in national reserves.
Accumulation source:
Unlike other governments, Bhutan is emphasising a well-shaped modern Bitcoin reserve plan to contribute to a greener global economy. Bhutan has led the way in tech innovation by adopting a modern crypto regulatory framework.
Accumulation source:
El Salvador is the first country to recognize bitcoin as legal tender, which is no longer applicable. However, despite the decline in growth rate after the renunciation of Bitcoin as national currency, the country managed to rank top 7 in Bitcoin holdings.
Accumulation source:
While North Korea’s crypto regulation and law enactment are unknown, its government crypto holdings have been a headline for quite some time due to cryptocurrency theft.
Accumulation sources:
Venezuela has embraced cryptocurrencies and Bitcoin to counter financial difficulties. The government even announced that it would create a strategic bitcoin reserve, not been implemented yet.
Accumulation source:
Finland has a proactive government in regulating and supervising activities. While the country does not hold as much bitcoin as the US or UAE, it has still managed to rank ed as the top 10 bitcoin holders.
Accumulation Source:
With the price surge in Bitcoin, many countries have started following the trend to regulate cryptocurrency. Several countries are even planning to establish a Bitcoin Strategic Reserve to integrate Bitcoin into the national reserve. While these are the top 10 countries in Q1 2025 to hold the most Bitcoins, the estimations keep changing with market flows.
As of Q1 2025, governments collectively hold over 463,741 BTC, which is about 2.3% of Bitcoin’s total supply, valued at billions of dollars.
While governments hold significant amounts, the pseudonymous creator Satoshi Nakamoto is believed to hold around 1.1 million BTC. Among known entities, institutions like BlackRock (636,108 BTC) and Binance (611,520 BTC) are major holders.
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