Government's Biggest Bitcoin Holders See Portfolios Surge as BTC Soars Past $93,000
Key Takeaways
- The U.S. government has $18.51 billion worth of Bitcoin as the foundation of its Strategic Bitcoin Reserve.
- Bhutan plans to utilize its surplus hydroelectric power to enhance its bitcoin mining activities.
- El Salvador will stop purchasing BTC with public funds from July 2025.
- Binance is allegedly counseling several administrations on establishing Strategic Bitcoin Reserves.
Despite its notorious volatility, Bitcoin (BTC) has emerged as a preferred means of storing wealth.
As governments accumulate vast amounts of BTC, with China possibly liquidating its stash and the U.S. setting up a Bitcoin Strategic Reserve, Bitcoin's position within the worldwide financial system is transforming.
Bitcoin-Holding Countries
As of April 23, 2025, Bitcoin is currently trading at over $93,700.
Here’s a list of the leading governmental bodies holding Bitcoins as of 2025, based on information compiled from Arkham Intelligence and Bitcoin Treasuries:
| Country | Amount (Bitcoin/USD) |
|---|---|
| The UAE | 420,000 BTC / $39.3 billion (allegedly) |
| The United States | 198,012 BTC / $18.5 billion |
| China | 190,000 BTC / approximately $17.8 billion (estimate) |
| The United Kingdom | 61,245 BTC / $5.7 billion |
| Ukraine | 46,351 BTC / $4.3 billion (estimated) |
| North Korea (Lazarus Group) | 8,889 BTC / $819.7 million |
| Bhutan | 7,697 BTC / $709.8 million |
| El Salvador | 6,155 BTC / $567.6 million |
| Venezuela | 240 BTC / Approximately $22.5 million (estimate) |
| Finland | 90 BTC / Approximately $78.4 million |
| Georgia | 66 BTC / $6.19 million |
Bhutan BTC Payments
Data from Arkham indicates that the Royal Government of Bhutan was moving significant amounts to unnamed wallets and has recently offloaded 406 BTC to the digital asset trading company QCP Capital.
However, it has been revealed in reports that over the past two years, Bhutan has leveraged its BTC holdings to double the salary of civil service employees in a bid to retain skilled workers, which successfully saw it reduce the number of workers quitting from 1,900 in 2023 to just 500 in 2024.
Indicating the start of the country's active BTC initiative, Bhutan's Prime Minister, Tshering Tobgay, also explained to Al Jazeera that the nation's choice to utilize its plentiful hydroelectric power to energize Bitcoin mining efforts will make "tremendous sense."
It is likely that Bhutan aims to kickstart its economy using Bitcoin, a strategy that has proven beneficial for compensating its civil servants.
Starting off the year 2025 with approximately 12,000 BTC, Bhutan now commands 7,697 Bitcoin valued at $709.84 million as of the latest update.
El Salvador
El Salvador has returned to its "one BTC every day" policy after briefly ramping up the size of its acquisitions.
Now, the nation holds 6,155 BTC worth $567.63 million. At an average price of $47,075 per BTC, its portfolio carries an unrealized profit of $153.96 million.
El Salvador will soon be required to roll back much of its Bitcoin policy and infrastructure as part of a $1.4 billion loan deal with the International Monetary Fund (IMF).
This includes ending its taxpayer-funded "1 BTC every day" investment strategy by July 2025.
Toward the end of February 2025 and the beginning of March, the nation briefly accelerated its efforts, amassing 40 BTC over 30 days, perhaps to get ahead of the July deadline .
North Korea (Lazarus Group)
North Korea’s state-sponsored Lazarus Group has cemented the nation’s status as one of the world’s largest Bitcoin holders, following its latest high-profile heist.
As per Arkham Intelligence, the hacker collective now holds 8,889 BTC —valued at around $819.7 million—following years of masterminding some of the most notorious crypto breaches.
The group’s latest attack, The February 2025 Bybit hack, Is the biggest crypto heist ever. It's reported that Lazarus is behind this. took and washed $1.4 billion from the exchange.
These assets, believed to be under the control of the North Korean regime, have surpassed the Bitcoin reserves of both El Salvador and Bhutan. This highlights even more clearly Pyongyang’s dependence on cryptocurrency-focused cybercriminal activities.
China Bitcoin Liquidations
China may have it offloaded its 194,000 BTC holdings confiscated from the 2019 PlusToken fraud, completely removing it from worldwide rankings, should this be verified.
On-chain analysis revealed that these tokens were sent to crypto mixers before being sent to centralized exchange addresses, suggesting that a sale has taken place.
At present, it is unknown if this gigantic haul of BTC has been offloaded.
UAE, U.S. and Others
The United Arab Emirates (UAE) is rumored to have more than double the holdings of the U.S., following multiple reports claiming it had amassed an absurd 420,000 BTC.
Former Binance CEO Changpeng Zhao, now based in the UAE, added credibility to these claims by sharing them on social media , though the figures remain unconfirmed.
In the meantime, the United States has officially set up a Strategic Bitcoin Reserve, which represents a significant move towards President Donald Trump’s crypto-friendly policy objectives.
The reservation might grow considerably as well. the BITCOIN Act, This suggests obtaining as many as 200,000 BTC each year for half a decade.
The United States' initiative to create a Bitcoin Strategic Reserve might encourage lesser economies to emulate this step, particularly as various nations, such as Russia, has endorsed Bitcoin mining, indicating a worldwide competition to control Bitcoin or its infrastructure.
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