Top 5 Countries with the Most Bitcoin Ownership
The Winklevoss twins, Tyler and Cameron, are well-known figures in the cryptocurrency world, holding an estimated 70,000 Bitcoin. Not to be outdone, Elon Musk’s Tesla also has a stake in the game with 11,509 Bitcoin. It’s clear that big players are getting involved in the crypto market.
But it’s not just individuals and corporations getting in on the action. Governments around the world are also holding significant amounts of Bitcoin. As of July 2024, global governments collectively control about 2.2% of Bitcoin’s total supply. While they aren’t actively buying or selling like private investors, they often acquire Bitcoin through asset seizures related to criminal activities or donations.
The United States leads the pack when it comes to government-held Bitcoin, with a whopping 213,297 Bitcoin in its possession. That adds up to approximately $19.6 billion at current market prices. Most of these holdings come from seizing cryptocurrencies in law enforcement operations targeting illegal activities like black-market trading and darknet transactions. If the U.S. government establishes a formal Bitcoin reserve as previously pledged by President-elect Donald Trump, their Bitcoin holdings could see a significant boost.
Despite China’s strict regulations on Bitcoin, the Chinese government holds an estimated 190,000 Bitcoin, making it the second-largest governmental holder of the cryptocurrency. Most of China’s Bitcoin reserves also come from asset seizures related to illicit activities.
The United Kingdom isn’t far behind, confiscating around 61,000 Bitcoin, mainly from shutting down a major money laundering operation. This move highlights the UK’s commitment to fighting financial crimes involving digital assets and ensuring the integrity of its financial system.
In a groundbreaking move, El Salvador became the first country to adopt Bitcoin as legal tender in 2021. President Nayib Bukele has been a strong proponent of this move, seeing the potential for digital currency to transform financial systems and increase economic participation. Since November 2022, El Salvador has been purchasing 1 BTC daily, regardless of its market price, as part of its “1 Bitcoin per Day” program. This strategic move has positioned El Salvador as a global leader in cryptocurrency adoption, with an estimated 5,800 Bitcoin in its possession.
Ukraine has also entered the Bitcoin game, despite its ongoing tensions with Russia. The country has received most of its Bitcoin reserves as donations from supporters worldwide, using the cryptocurrency to support defense and humanitarian efforts amidst the conflict. Currently, Ukraine holds 186 Bitcoin, showcasing its innovative approach to leveraging digital assets during challenging times.
