As Bitcoin cements its place in the global financial system, governments around the world are beginning to treat it as more than just a speculative asset. Leading the pack are the United States and China, which now hold the highest amount of Bitcoin among all governments globally. Their involvement marks a significant shift in how nations approach cryptocurrency in a time of economic uncertainty and digital transformation.
According to recent data from Bitbo.io and Cointelegraph, the U.S. government currently holds around 207,000 BTC, valued at roughly $24 billion. These digital assets were not bought on the open market, but instead acquired through major cybercrime investigations. High-profile cases like the Silk Road takedown, the Bitfinex hack, and various money laundering operations led to the seizure of this Bitcoin, which is now kept in government-managed digital wallets. Occasionally, a portion of the holdings is auctioned off, but the bulk remains in federal storage.
China follows closely behind, with approximately 194,000 BTC worth around $23 billion under state control. Most of this Bitcoin came from the infamous PlusToken scam, a massive fraud operation that unraveled in 2019. Despite China’s strict ban on cryptocurrency trading and mining, the government has retained these assets, signaling that even skeptical nations see value in holding Bitcoin.
Other governments are also holding significant amounts of Bitcoin. The United Kingdom, for example, possesses about 61,000 BTC (around $7.3 billion), mostly from criminal investigations. Ukraine owns roughly 46,000 BTC, a large part of which was donated by international supporters to fund both humanitarian and military efforts during its ongoing conflict with Russia.
One of the most intriguing cases is Bhutan, a small Himalayan kingdom that holds between 12,000 and 13,000 BTC. Unlike the other top holders, Bhutan did not obtain its Bitcoin through seizures. Instead, it quietly began mining Bitcoin in 2021 using hydroelectric power through its state-owned investment arm, Druk Holding & Investments. This clean energy approach makes Bhutan’s strategy both sustainable and forward-thinking.
Analysts believe the increasing role of governments in cryptocurrency signals a broader shift; Bitcoin is no longer seen as just a risky digital asset, but rather a strategic one. As global economies face rising interest rates, inflation, and political tensions, Bitcoin’s decentralized nature and scarcity are becoming more attractive to state treasuries.
This evolving trend highlights the growing importance of crypto in international finance and raises new questions about how governments will use or regulate these assets in the future. Leading industry players like Canaan Inc. (NASDAQ: CAN) will be tracking how these government holdings play a part in the evolution of regulatory frameworks around the globe.
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