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Governments around the world continue to play an important role in the crypto space. However, a new report shows some interesting shifts. According to Coingecko, as of April 2025, governments collectively hold over 463,741 $BTC, which is roughly 2.3% of Bitcoin’s total supply. This marks a decrease from 529,591 $BTC in July 2024, which shows that the governments are changing strategies.
While El Salvador and Bhutan are accumulating more $BTC, others like the United States and Germany are cutting down.
United States Holds $18B Worth Of $BTC
The U.S. remains the largest holder with 198,012 $BTC, worth around $18.3 billion, although it’s slightly down from July 2024 after liquidating some assets. Next comes China, which, despite banning crypto trading and mining, holds 194,000 $BTC valued at $17.6 billion. Most of China’s holdings came from the 2019 PlusToken Ponzi scheme.
Bhutan Mines Over 8,000 $BTC
The United Kingdom holds 61,000 $BTC, all seized from criminal activities. The government is still weighing whether to sell or use these funds for public finance needs. Bhutan, the small Himalayan nation, has impressively mined 8,594 $BTC using sustainable hydroelectric energy. It’s one of the few countries accumulating Bitcoin through mining rather than seizures or purchases.
Meanwhile, El Salvador has steadily built up 6,135 $BTC worth $567.8 million and continues to buy 1 $BTC daily as part of President Nayib Bukele’s strategy to integrate Bitcoin into the national economy.
Since 2024, Ukraine has received 256 $BTC worth $21.3 million in donations, which have been fully liquidated for military and humanitarian efforts. Germany sold its 46,359 $BTC stash in mid-2024, which caused a 15.7% drop in Bitcoin’s price.