Which countries hold Bitcoin

Governments

* Ukraine: this is not a state reserve. bitcointreasuries.net labels this row “holdings of public officials”: bitcoin that Ukrainian officials listed in their asset declarations. Source

Not ranked among countries: Roswell, New Mexico (0.0347 BTC). These are local governments, not countries, so their holdings are kept apart from the country figures. Source: bitcointreasuries.net, 22 Oct 2026, 13:35 London.

United States: the Strategic Bitcoin Reserve

On 6 March 2025 a US executive order created the Strategic Bitcoin Reserve. It is capitalised with the BTC the Treasury holds that was finally forfeited in criminal or civil proceedings. The order says these coins are not to be sold and are kept as reserve assets; strategies to acquire more BTC must be budget neutral, meaning no extra cost to taxpayers.

The US figure in the table above (328,372 BTC) is the tracker's estimate from known addresses, not an official reserve statement.

Individual states are passing their own reserve laws too: which states have enacted one and which bills failed.

Source: whitehouse.gov, executive order of 6 March 2025. Wiki →

Why trackers show different numbers

Trackers attribute wallets differently, count seized vs forfeited coins differently, and include unconfirmed estimates. So we show the range, not one number.

“—” means the tracker does not list the country. River figures as of 31 Dec 2025.

How governments got their Bitcoin

• United States: Criminal seizures and forfeitures (Silk Road, Bitfinex hack recovery, James Zhong case and others); held under the 6 Mar 2025 executive order with a no-sell policy. (CoinCoverage, River report)
• China: Confiscations; CoinCoverage attributes most of it to the PlusToken scheme. Never officially disclosed by China. (CoinCoverage, River report)
• United Kingdom: Seized in a criminal case (Jian Wen case per CoinCoverage); disposal pending. (CoinCoverage)
• Ukraine: Not a state reserve. bitcointreasuries.net labels this row “holdings of public officials”, i.e. bitcoin declared by Ukrainian officials in their asset declarations. CoinCoverage instead describes it as war donations; CoinGecko and River do not list Ukraine. (CoinCoverage, bitcointreasuries.net)
• Bhutan: State-backed mining with hydroelectric power (Druk Holdings & Investments). (CoinCoverage, River report)
• El Salvador: Direct purchases (legal tender since September 2021). (River report, CoinCoverage)
• United Arab Emirates: Sovereign wealth exposure and mining-related strategies (River). (River report)
• Germany: Seized (Movie2k case) and sold: about 49,858 BTC in June–July 2024 (CoinCoverage). (CoinCoverage)

Where the cited sources do not say how a country got its coins, we do not state it. US Strategic Bitcoin Reserve →

Changes over time

Combined holdings of the 14 governments present in every snapshot: 645,592 BTC on 10 Oct 2026 → 645,605 BTC on 22 Oct 2026, 9 snapshots.

Points are real snapshots of the bitcointreasuries.net table; the chart grows daily and missing dates are never back-filled.

Companies and funds by country

Source: bitcointreasuries.net · as of 22 Oct 2026, 13:35 London · computed by 21btc: BTC of companies and funds (governments excluded) summed by country, top 25, middle column is the number of entities

All holders →

FAQ

Which country holds the most Bitcoin?

United States: about 328,372 BTC according to bitcointreasuries.net.

Where do governments get their Bitcoin?

Mostly from criminal seizures. Only a few countries bought it, such as El Salvador, and Bhutan mined it.

Why do sites show different numbers?

Trackers attribute wallets differently, count seized vs forfeited coins differently and include unconfirmed estimates. Estimates for Bhutan run 518–13,029 BTC, for China 15,000–194,000 BTC (see the table above).

Does Ukraine hold 46,351 BTC in reserve?

No. bitcointreasuries.net labels that row “holdings of public officials”: bitcoin from Ukrainian officials' asset declarations, not a state reserve.