US, UK, Germany Among Countries With Largest Government Crypto Holdings, Arkham's Data Shows

The United States, United Kingdom, and Germany rank among the top countries holding cryptocurrencies at the government level, according to data from Arkham Intelligence. The crypto analytic firm’s onchain analysis shows that the U.S. government holds 212,847 bitcoins while El Salvador has been purchasing one bitcoin daily as announced by its president.

Top Government Holders of Cryptocurrency

Leveraging onchain data analysis, blockchain intelligence firm Arkham Intelligence has created a dashboard featuring the governments with the biggest crypto holdings. Arkham shared on social media platform X on Friday: “For each country, you can see their current BTC balance, balance history in USD, and a real-time feed of their most recent transactions.”

The analytics firm’s data shows the U.S. government as the top crypto holder, boasting a stash exceeding 212,847 bitcoins (BTC) in addition to several other cryptocurrencies, including ether (ETH). Trailing behind are the British government with 61,245 BTC and the German government with 49,859 BTC. Meanwhile, Arkham’s data shows 5,719 BTC for El Salvador.

While the U.S. government’s recent crypto activity occurred earlier this month, the U.K. government’s BTC hasn’t moved since July 2021 and Germany’s last transactions were in January this year, Arkham’s data shows. El Salvador stands out with a continuous buying strategy, adding one BTC to the country’s treasury daily. Salvadoran president Nayib Bukele confirmed in March that his country will keep buying one bitcoin daily until BTC “becomes unaffordable” with fiat currencies. El Salvador has been buying and earning BTC since the nation adopted the cryptocurrency as a legal tender in September 2021.

Arkham Intelligence’s dashboard currently focuses on a specific set of governments, and China’s holdings are not yet reflected. However, according to Bitcoin Treasuries, China may hold around 190K BTC.