Global Government Bitcoin Reserve Top List: Who is the Dominant Country in the Crypto World?

Governments around the world hold approximately 463,741 bitcoins, accounting for 2.3% of the total bitcoin supply, with a total value reaching 18 billion USD! This is no small amount, equivalent to the GDP of some small countries! These bitcoins mainly come from seized assets, strategic purchases, mining, and donations, with a wide variety of sources, making it a "national treasure" of the crypto circle. Below is the ranking of government bitcoin reserves by country for 2025, based on publicly available information from CoinGecko, Bitcoin Treasuries, etc. Let's take a look at who is the strongest in the "crypto circle"!

1. United States: 198,012 BTC (approximately $18.3 billion) The United States is undoubtedly the "dominant player in the crypto world"! Holding nearly 200,000 bitcoins, it occupies half of the global government holdings! Most of these coins were seized from major cases like Silk Road and the Bitfinex hack. The FBI's operation is simply a case of "catching thieves while making a fortune". Even more outrageous is that in March 2025, the Trump administration launched a "Digital Fort Knox", integrating the seized bitcoins into a strategic bitcoin reserve, clearly aiming to treat BTC as a national treasury asset! This move does indeed have a hint of "crypto nuclear weapon" flavor!
2. 2. China: 194,000 BTC (approximately $17.6 billion) China, in second place, closely following the United States! Despite the strict domestic restrictions on cryptocurrency trading, the government has not lost its Bitcoin, mainly due to the 194,000 BTC confiscated from the PlusToken Ponzi scheme in 2019. The official stance remains silent, neither selling nor revealing any plans, leaving everyone guessing: is this a secret "hoarding" strategy or something more? Some netizens joke: "China is in a 'waiting for the right moment' phase in the crypto world, preparing for something big?"
3. 3. United Kingdom: 61,000 BTC (approximately $5.6 billion) The UK is not to be outdone, having seized 61,000 bitcoins through efforts to combat money laundering and financial crime, mainly from cases involving Chinese scam groups. The UK government is still grappling with the dilemma: should they sell them for cash to support law enforcement, or keep them as a "digital gold bar"? This question will likely require several parliamentary debates to resolve.
4. 4. Bhutan: 12,062 BTC (approximately $1.23 billion) Bhutan, this small Himalayan country, is simply a "dark horse in the crypto world"! With hydroelectric power mining, Bhutan has quietly accumulated 12,062 BTC, which is equivalent to 25% of the country's GDP! This operation can be described as "mining gold with green electricity". The Prime Minister of Bhutan even publicly stated that mining uses renewable energy, is environmentally friendly and profitable, making it a "model for sustainable development in the crypto world". This move is impressive!
5. 5. El Salvador: 6,135 BTC (approximately $568 million) El Salvador, the "true love fans" of the crypto world! Since 2021, this guy has been doing a "buy 1 BTC every day" operation, and has managed to accumulate 6,135 bitcoins. President Bukele (Nayib Bukele) directly made BTC legal tender, and all merchants in the country must accept bitcoin payments! Although the IMF (International Monetary Fund) is somewhat displeased and has pressured El Salvador to tone it down a bit, this faith in the crypto world still commands respect.
6. 6. Ukraine: About 186 BTC (approximately $0.17 million) Ukraine's Bitcoin story is somewhat "tear-jerking". Due to the war, Ukraine received BTC donations from netizens around the world, peaking at 46,351 coins! But by 2025, only 186 coins remain, most of which were used to purchase military equipment and humanitarian aid. Ukraine's actions can be described as "the passionate representative of the crypto community"!

Other countries:

• North Korea: It is said that through the Lazarus hacker group, North Korea holds 6,990 BTC (approximately $717 million), all of which were hacked from exchanges like Bybit. This wave of "hacking the hackers" is indeed quite thrilling.

• Finland: 1,890 BTC were confiscated, part of which was used to fund social projects, making them a "philanthropist in the crypto world."

• India: In 2024, 450 BTC were confiscated, and the government is also considering establishing a "national digital asset fund".

The secrets behind countries' "hoarding currency": A new battlefield in great power competition?

Seeing this, do you think the governments of various countries play with Bitcoin in a completely different way than we retail investors trade coins?

The government's hoarding of coins is not to "get in" and make a profit, but rather for deeper strategic considerations:

1. Asset seizure: Most of the Bitcoin in the United States, the United Kingdom, and China is seized from criminal activities, making it the "ultimate player in the black market."
2. Economic Strategy: El Salvador and Bhutan directly use BTC as "digital gold" to hedge against inflation and currency devaluation, which is simply "macro-economics in the crypto world."
3. Geopolitics: North Korea uses BTC to bypass international sanctions, Ukraine relies on donations to sustain the war situation, and Bitcoin has become a new pawn in the game of major powers.
4. Market Impact: Germany sold 46,359 BTC in 2024, directly causing a 15% drop in the price! This tells us that when the government intervenes, the crypto market shivers.

Someone on X also reported that China may be considering using BTC to diversify investments and reduce dependence on US Treasury bonds! Although this news hasn't been officially confirmed, just thinking about it is exciting: if major countries start treating BTC as a strategic asset, won't the crypto market take off directly?

The limit of 21 million Bitcoins determines its scarcity, making it known as "digital gold". Coupled with the transparency and decentralization of blockchain, governments have also started to take notice. Especially in 2025, when global economic uncertainty is on the rise, traditional reserve assets (gold, US Treasuries) seem a bit "powerless", and BTC has become highly sought after. A prominent figure on X jokingly remarked: "Gold is too heavy, US Treasuries fear default, Bitcoin is the real hard currency!"

Do you think BTC will become a sovereign "standard configuration" in the future?