List of Countries Owning the Most Bitcoin Apart from Germany

Bittime - After the German government completed its billion-dollar Bitcoin (BTC) sale, investors can finally breathe a sigh of relief after the sale put huge pressure on the crypto market. Even so, there are still several governments with significant BTC deposits ready to enter the market. The question is, who will be next to sell?

United States of America

According to data from Arkham Intelligence, the United States government holds the most Bitcoin of any government entity, with a total of $13.8 billion worth of crypto assets spread across twelve crypto assets.

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More specifically, the majority of these deposits consist of Bitcoin, which totals $13.42 billion (213,000 BTC). Additionally, the US government also holds $169.43 million in Ethereum (ETH) and $121.73 million in Tether (USDT).

For balances under $50 million, the US government holds $47.29 million in wrapped Bitcoin (WBTC), $22.98 million in Binance Coin (BNB), and $10.14 million in USD Coin (USDC). Smaller balances in the millions include Dai (DAI), Wrapped Ethereum (WETH), Uniswap (UNI), and Tron (TRX).

Interestingly, Washington has sold its confiscated BTC stash and sold hundreds of millions of dollars through eleven auctions between 2014 and 2023. However, according to data from researcher and software engineer Jameson Lopp, the $366 million raised from these sales would be worth $12.3 billion today This.

This fact may have pushed the US government's total crypto holdings to double since the start of the year, indicating that the American government now wants to keep BTC on its balance sheet. Nevertheless, the US government continues to gradually sell some of its holdings to exchanges and other wallets.

China

Although not verified with on-chain data, it is estimated that the Chinese government has at least 190,000 BTC and more than 800,000 ETH, among other cryptocurrencies seized during the PlusToken scam in 2019.

Whether or not the Chinese government has sold these tokens remains unverified at this time, although CryptoQuant founder and CEO Ki Young Ju seems to think they have.

With an estimated $9 billion in BTC and over $2 billion in ETH, it's no surprise that the Chinese government is one of the world's largest crypto holders.

English

Following the sale by Germany, the UK became one of the governments with the largest BTC holdings, with a total of $3.8 billion under its control.

The UK government has confiscated 61,245 BTC, all of which was in the form of Bitcoin. Most of this figure is believed to have been added to its balance sheet earlier this year following the arrest of Jian Wen and the seizure of around $1.8 billion (61,000 BTC). However, this figure is not yet reflected in Arkham Intelligence, so this balance may need to be updated.

Will the UK sell its entire stockpile any time soon? Probably not. At the end of 2021, the UK held more than $4 billion in BTC. They then gradually sold around 75% of that amount and kept a balance of just over $1 billion until 2023, when they apparently started accumulating more confiscated BTC.

Ukraine

Although the data has not been updated for several years, it is estimated that Ukraine has at least 46,351 BTC worth around $3 billion in its treasury.

Ukraine's addition to this list feels bittersweet. After the Russian invasion, the country was forced to muster every available financial resource and direct it toward self-defense.

It is alleged that Ukraine's BTC balance is constantly fluctuating as it receives donations in the form of Bitcoin and other cryptocurrencies from around the world.

The Savior

With $366 million held exclusively in Bitcoin, El Salvador is the least likely of any government entity to sell any of its 5,800 tokens.

In September 2021, El Salvador made history by becoming the first country to officially adopt Bitcoin as the country's official currency, placing it on par with the US dollar. Even more surprising, El Salvador has made Bitcoin a big part of its national economic policy, and to that end, the country has committed to purchasing 1 BTC every day.

The country is facing sharp criticism from economists and observers who say President Nayib Bukele is making a very risky bet. However, looking at the BTC price appreciation since 2021, this investment is clearly paying off.

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Speculatively, if El Salvador starts selling its BTC treasury, it could be an indication that the country's economy is in deep trouble. While this holding is not comparable to others, it is still worth watching as it will increase by 1 BTC every day, which could lead to the government of El Salvador becoming one of the richest Bitcoin holders in the world.

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