Which Countries Hold the Most Bitcoin? Government Holdings

Key Takeaways

Governments are accumulating Bitcoin, often through law enforcement actions.

Countries have adopted Bitcoin through various means, including direct purchases, mining, and accepting donations in exchange for citizenship.

Government decisions to hold Bitcoin are influenced by economic factors, such as seeking alternative currencies, and political factors, such as addressing corruption.

While Bitcoin’s adoption varies across nations, several governments have accumulated Bitcoin holdings. Here’s a look at some of the top countries:

Their value in dollars rises and falls with the Bitcoin price, so rankings by value can shift even when no coins move.

Which country holds the most Bitcoin? The United States. Public trackers put US government wallets at about 198,000 BTC, or about 325,000 BTC counting the 127,271 BTC seized in October 2025, which are still going through forfeiture. China (an estimated 194,000 BTC) and the United Kingdom (about 61,000 BTC) follow.

Country	Bitcoin (BTC)	How it got them	Source, date
United States	About 198,000, plus 127,271 seized in 2025 (forfeiture pending)	Seizures	Bitbo, Nov 2025; Decrypt, Oct 2025
China	About 194,000 (estimate)	PlusToken seizure	Bitbo, Nov 2025
United Kingdom	About 61,000	Seizure (Jian Wen, Zhimin Qian case)	Bitbo, Nov 2025
El Salvador	About 7,750	Purchases since 2021	Government wallet data, Oct 2026
Bhutan	Under 1,750 (about 13,000 in Oct 2024)	Mining, much of it since sold	Arkham via The Block, 2026
Venezuela	240	Not disclosed	Bitcoin Treasuries
Finland	90	Seizures; most sold in 2021	Bitbo, Nov 2025
Georgia	66	Not disclosed	Bitbo, Nov 2025
Germany	0 (sold about 50,000 in 2024)	Seizure, sold June–July 2024	German police; sales on chain
Ukraine	None confirmed	46,351 BTC were declared by officials personally (2021)	Decrypt, April 2021

Government bitcoin holdings as reported by public trackers. Figures are estimates; governments rarely publish their wallets.

United States

The United States government is the largest holder of Bitcoin. Public trackers put its wallets at about 198,000 BTC, most of it seized in criminal cases. In October 2025, the Justice Department also seized 127,271 BTC from Chen Zhi, the head of a Cambodia-based conglomerate accused of running scam operations; prosecutors are seeking criminal forfeiture, so those coins are not yet the government’s to keep. In March 2025, an executive order set up a Strategic Bitcoin Reserve, funded with forfeited Bitcoin that the Treasury owns, and said the reserve’s coins will not be sold. However, the amount of Bitcoin the U.S. government holds may vary.

China

The Chinese government is estimated to hold roughly 194,000 BTC, though it has never disclosed its holdings. Many of these Bitcoins were confiscated from the PlusToken Ponzi scheme, one of the biggest cryptocurrency frauds, which lured investors with promises of up to 30% returns.

United Kingdom

The UK holds around 61,000 BTC, primarily seized from money launderers. These Bitcoins were confiscated from Jian Wen and Zhimin Qian, two individuals who used Bitcoin for illegal activities.

Ukraine

Ukraine is often listed with 46,351 BTC, but that is the total that 652 Ukrainian officials declared owning personally in their 2020 asset declarations, as reported in April 2021; it is not a state reserve. Separately, Ukraine’s anti-corruption bureau seized crypto, including 6.9 BTC, from Yury Shchigol, a former head of the State Special Communications Service. Ukrainians themselves are among the keenest holders: Triple-A estimated in 2021 that about 5.5 million people, 12.7% of the population, owned crypto.

El Salvador

El Salvador began acquiring BTC in 2021, and its holdings passed 7,750 BTC in early October 2026. President Nayib Bukele, who championed Bitcoin adoption in El Salvador, implemented a program that contributed to the country’s Bitcoin revenue by granting expedited citizenship to immigrants who donate BTC to the government.

Bhutan

Bhutan began mining Bitcoin in 2019, when its value was around $5,000 per BTC. Its holdings peaked at about 13,000 BTC in October 2024. By June 2026, wallets that Arkham links to Bhutan held about 1,750 BTC.

Venezuela

The Venezuelan government currently possesses 240 BTC, while 10.30% of the population holds some Bitcoin. In 2018, the government ventured into the cryptocurrency market by launching Petro, allegedly backed by the country’s oil reserves. Petro was shut down in January 2024, after a 2023 corruption scandal. Reports in January 2026 claimed a hidden reserve of 600,000 BTC or more; no blockchain analysis firm has confirmed it.

Georgia

The Georgian government currently holds around 66 BTC.

Finland

In 2018, the Finnish government confiscated 1,889 BTC from various narcotic cases. These Bitcoins were forfeited to the state and subsequently sold in 2021 for $48 million. Currently, the country retains 90 BTC.

Germany

German authorities seized around 50,000 BTC in January 2024 from the suspected operators of the piracy site Movie2k. According to the national police, this seizure was the largest in German history, with a combined value of over $2 billion. The state of Saxony sold 49,858 of these BTC between June 19 and July 12, 2024, so Germany no longer holds them.

Holdings change as governments seize, buy and sell coins: Germany sold its 50,000 BTC in 2024, Finland sold most of its coins in 2021, and Bhutan has been selling since late 2024.

Final Thoughts

Many nations have acquired Bitcoin holdings, often through seizures from criminal activities. The strategies for adopting Bitcoin vary across countries, with some governments purchasing it directly while others mine it or accept donations.

Economic factors, like seeking alternative currencies, and political factors, like addressing corruption, influence government decisions to hold Bitcoin. As Bitcoin’s adoption continues to expand, we can expect to see more governments embracing cryptocurrency.

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