In this post I will focus on the subject of Top Governments With Highest Bitcoin Holdings, explaining how different countries have obtained and managed large volumes of Bitcoin.
Countries have acquired their holdings through a myriad of means, including law enforcement seizures, targeted investments, and even state-led mining operations
Signifying a worldwide interest in this form of digital currency. Let’s analyze which countries hold the most sovereign Bitcoin and its implications.
Key Points & Top Governments With Highest Bitcoin Holdings list
| Country | Key Point |
|---|---|
| China | World’s most populous country and second-largest economy. |
| United States of America | Largest economy in the world and a global leader in technology and defense. |
| Ukraine | Currently in conflict with Russia; known for its agricultural exports. |
| United Kingdom | A major global financial center; consists of England, Scotland, Wales, and Northern Ireland. |
| Bhutan | Known for its Gross National Happiness index and strong focus on sustainability. |
| El Salvador | First country to adopt Bitcoin as legal tender in 2021. |
| Venezuela | Rich in oil reserves but facing economic and political crises. |
| Finland | Renowned for its education system and high quality of life. |
| Georgia | Located at the crossroads of Europe and Asia; known for its wine and hospitality. |
| Germany | Europe’s largest economy and a leader in engineering and manufacturing. |
10 Top Governments With Highest Bitcoin Holdings In 2025
1.China
China is one of the largest governmental holders of Bitcoin in the world, even though its policy on cryptocurrency trading and mining is quite draconian.
Even with a ban on crypto exchanges and mining activities, the Chinese government came to possess large amounts of Bitcoin through enforcement actions.
For example, in 2020, they seized over 194,000 BTC alongside other cryptocurrencies during a raid on the PlusToken Ponzi scheme.
These funds have since been locked and remain in state-controlled wallets, which is why China is one of the top Bitcoin-holding countries. This is China’s complicated paradox—banning crypto assets while holding a vast store of them.
| Feature | Details |
|---|---|
| Bitcoin Holdings | ~194,000 BTC (seized from PlusToken scam) |
| Acquisition Method | Law enforcement seizure |
| Government Stance | Strict ban on crypto trading and mining |
| Current Status | Holdings not publicly sold; held by state |
| Notable Fact | One of the largest government holders despite regulatory bans |
2.United States of America
The United States government possesses the largest quantity of Bitcoin compared to all other countries. They acquired this Bitcoin due to law enforcement seizures during criminal cases, for example, the shutdown of the Silk Road marketplace and the recovery of funds after the Bitfinex exchange hack.
According to new reports, the U.S. government holds over 200,000 BTC, which is worth several billion dollars. The assets are held in trust by federal agencies, including the Department of Justice and the U.S. Marshals Service.
While some of the Bitcoin has been liquidated through public auctions, a significant amount still sits in government wallets.
The United States is not only a main controller of the cryptocurrency ecosystem, but also a primary owner, showcasing the dynamic and changing interactions between governments and cryptocurrencies.
| Feature | Details |
|---|---|
| Bitcoin Holdings | ~200,000+ BTC |
| Acquisition Method | Seizures (e.g., Silk Road, Bitfinex hack) |
| Government Stance | Legal but regulated; assets auctioned periodically |
| Managing Authority | U.S. Marshals Service, Department of Justice |
| Notable Fact | Largest Bitcoin-holding government in the world |
3.Ukraine
Ukraine is among the rare states where public authorities and government bodies have willingly endorsed digital currencies, Bitcoin included.
Although the state does not possess significant amounts like the US, Ukraine captured the world’s attention during the conflict with Russia in 2022 by accepting millions in crypto donations.
These donations, along with Bitcoin, were utilized to aid in military and humanitarian operations. Nations with advanced blockchain capabilities tend to operate under ‘crypto friendly’ governments, which is why Ukraine ranks high in that regard.
| Feature | Details |
|---|---|
| Bitcoin Holdings | Crypto donations (millions in BTC and others) |
| Acquisition Method | Public crypto donations during 2022 war |
| Government Stance | Pro-crypto, legal framework in development |
| Usage | Funding humanitarian and defense efforts |
| Notable Fact | First country to use crypto at large scale in wartime |
4.United Kingdom
Around 61,000 BTC, roughly several billion pounds, puts UK in a leading position as one of the worlds officials Bitcoin holders. The UK government seized the BTC from Jian Wen and Zhimin Qian during a money laundering case in 2021. The assets are placed under the Proceeds of Crime Act.
However, ongoing legal deliberations will decide if they will be permanently held, sold in auction, or given to the national treasury. This positions the UK as one of the few countries whose government directly controls a significant reserve of Bitcoin.
| Feature | Details |
|---|---|
| Bitcoin Holdings | ~61,000 BTC (seized in money laundering case) |
| Acquisition Method | Criminal asset seizure |
| Government Stance | Supportive of blockchain; regulated crypto exchanges |
| Current Status | Assets frozen; future use under legal review |
| Notable Fact | Seized Bitcoin valued at over £5 billion |
5.Bhutan
Since 2019, Bhutan has become one of the top sovereign holders of Bitcoin in the world, quietly amassing over 13,000 BTC through its wealth fund Druk Holding & Investments, valued roughly at $780 million.
Mining its own cryptocurrency using clean hydropower, Bhutan benefits from what can be called “green mining,” also allowing for economic diversification while enabling the country to fund public services furthering development goals.
Bhutan is estimated to rank fourth or fifth as national holder of Bitcoin, which corresponds to almost 30% of its GDP.
| Feature | Details |
|---|---|
| Bitcoin Holdings | ~13,000 BTC |
| Acquisition Method | State-run green Bitcoin mining (hydropower) |
| Government Stance | Pro-crypto, focused on sustainable mining |
| Management | Druk Holding & Investments (sovereign wealth fund) |
| Notable Fact | Holdings worth ~30% of Bhutan’s GDP |
6.El Salvador
El Salvador is the sixth largest sovereign Bitcoin holder in the world after accumulating 6,100 BTC with the value ranging from $500 to $630 million shake dollar.
It started purchasing Bitcoin in 2021 after making it legal tender and continues to buy nearly one Bitcoin daily, often during price dips.
Recent agreements with the IMF have made these reserves voluntary which El Salvador has maintained showcasing a new national strategy on cryptocurrency.
| Feature | Details |
|---|---|
| Bitcoin Holdings | ~6,100 BTC |
| Acquisition Method | Government purchases since 2021 |
| Government Stance | Bitcoin is legal tender |
| Policy | “Buy 1 BTC daily” strategy |
| Notable Fact | First country to adopt Bitcoin as legal tender |
7.Venezuela
Venezuela’s government has approximately 240 BTC, mainly through PDVSA’s strategic reserves, acquired through confiscation, or set aside by PDVSA, making it worth roughly $25 million in early 2025.
Although this amount is small in comparison to other world leaders, it does highlight the Venezuelan administration’s attempts of using cryptocurrencies to circumvent sanctions and strengthen foreign reserve stagnation. Especially notable is PDVSA’s initiative to pay suppliers or strengthen international reserves with crypto.
| Feature | Details |
|---|---|
| Bitcoin Holdings | ~240 BTC |
| Acquisition Method | Confiscations and strategic reserves (PDVSA) |
| Government Stance | Mixed – used to bypass sanctions |
| Usage | Payments to suppliers, bolster reserves |
| Notable Fact | Uses crypto amid hyperinflation and economic sanctions |
8.Finland
Finland holds the eighth largest bitcoin reserve, with about 1,981 BTC accumulated valued between $200-$220 million in late 2024. Bitcoin has been acquired during criminal investigations and law enforcement seizures. These assets are kept securely in cold wallets under government control.
To support Ukraine during the conflict, parts were auctioned which raised tens of millions in euros. Finland’s Bitcoin reserve, while modest compared to global superpowers, showcases a more visionary adaptation of integrating digital assets into the country’s economy.
| Feature | Details |
|---|---|
| Bitcoin Holdings | ~1,981 BTC |
| Acquisition Method | Criminal seizures |
| Government Stance | Neutral; follows EU crypto regulations |
| Disposition | Portions auctioned; some used to support Ukraine |
| Notable Fact | One of the few EU countries to auction seized crypto |
9.Georgia
As of the 27th of March, 2025, Georgia ranks among the top ten national holders of Bitcoin, owning approximately 66 BTC (BITCOIN) worth $5.5 million. Most of these assets were accrued through law enforcement seizures. Georgia has a neutral policy regarding cryptocurrencies.
The country offers tax benefits for mining operations, enforces AML/KYC regulations on service providers, and nurtures a small, growing ecosystem crypto.
Even though Georgia does not rank highly on the list of Bitcoin holders, the openness to digital assets as demonstrated through policies is a welcoming approach.
| Feature | Details |
|---|---|
| Bitcoin Holdings | ~66 BTC |
| Acquisition Method | Government seizures |
| Government Stance | Crypto-friendly; low mining taxes |
| Usage | Stored in state wallets |
| Notable Fact | Among top 10 national BTC holders despite small amount |
10.Germany
Germany briefly became the fourth largest national holder of Bitcoin (BTC) after law enforcement seized nearly 50,000 BTC valued at approximately €2.2 billion in January 2024, stemming from the Movie2k piracy case running in Saxony.
The seizure is managed by Federal Criminal Police Office as to which mid-2024, much of it is liquidated – selling tens of thousands of tokens and reducing the reserve to under 5000 BTC (~$284 million).
These large scale disposals led to controversies as critics urged retaining bitcoin as a strategic reserve contrasting the legal procedures that mandate auctions.
| Feature | Details |
|---|---|
| Bitcoin Holdings | ~50,000 BTC (reduced to <5,000 BTC by mid-2024) |
| Acquisition Method | Seized from Movie2k piracy case |
| Government Stance | Crypto regulated under EU law |
| Status | Majority of BTC sold in 2024 |
| Notable Fact | Fourth-largest BTC holder before liquidation |
Conclusion
In conclusion, the countries that rank highest in Bitcoin holdings are the United States, China, Germany, and El Salvador, owing to reserves acquired via seizures, purchases, or mining.
These holdings showcase a deepening international acknowledgment of Bitcoin, including its geopolitical and monetary importance, even by authorities.
Every nation has its own policy framework demonstrating different approaches to digital asset governance and use for geopolitical advantages.