Decrease in Global Bitcoin Holdings: Governments Now Control Over 463,000 BTC
The world of cryptocurrency is no longer just the domain of private entities and individuals. Governments are increasingly dipping their toes into the digital asset space, shaping new precedents for how nation-states might approach digital assets in the years ahead.
In a move that signified the growing importance of Bitcoin, President Donald Trump issued an executive order in March 2025 to create a "Digital Fort Knox" for the digital currency. However, the US government's holdings of Bitcoin remain significant but divided. As of April 2025, the United States government holds around 198,012 Bitcoin, worth approximately $18.3 billion. These holdings stem from major cases like Silk Road, PlusToken, and money laundering probes.
The UK government, too, has a substantial stake in Bitcoin, having acquired the digital currency through asset seizures from cybercrime cases. The UK currently holds 61,000 Bitcoin, but a clear decision on whether to liquidate or repurpose these assets remains elusive.
Elsewhere, countries like El Salvador and Bhutan are embracing Bitcoin as part of their national reserves. El Salvador continues to make daily Bitcoin purchases, holding 6,135 BTC as part of its strategic approach. Bhutan, on the other hand, mines Bitcoin directly, accumulating 8,594 Bitcoin via hydro-powered operations.
China, despite its prohibition on crypto trading and mining, holds the second-largest government stash of Bitcoin, with around 194,000 Bitcoin. Most of China's Bitcoin holdings stem from the 2019 PlusToken Ponzi scheme.
The role of sovereign players in the crypto space is becoming harder to ignore. In Europe, Germany sold off its 46,359 Bitcoin holdings in 2024, triggering a notable 15.7% price dip. However, there is no publicly available information indicating that any German government entity holds significant amounts of Bitcoin, nor data showing whether government-held Bitcoin stocks have been increased or reduced in recent years.
Ukraine, too, has ventured into the world of digital assets, receiving over 256 BTC in donations. Most of these donations have been liquidated for military and humanitarian use.
The escalation of the US-China trade war could potentially impact the crypto bull run peak. A tariff hike threatens US Bitcoin mining as costs are expected to surge. Meanwhile, the UK has unveiled crypto legislation, joining the US on innovation sandbox.
In the face of these developments, it is clear that the relationship between governments and cryptocurrency is evolving rapidly. From seizures and sales to mining and strategic holdings, governments are playing a more active role in the digital asset space, and this trend is likely to continue in the years ahead.
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