Governments will own 2,5% of the total Bitcoin supply by 2025, according to consolidated data.

Governments will own 2,5% of the total Bitcoin supply by 2025, according to consolidated data.

Currently, governments around the world hold more than 527.000 BTC, cementing their role as key players in the crypto ecosystem.

The world's governments currently control more than 527.000 bitcoins, which represents approximately 2,5% of the total circulating BTC supplyThis figure, consolidated by Bitcoin Treasuries this July, marks a significant increase from CoinGecko Research's April report, which estimated state ownership at 2,3%, with around 463.741 BTC. 

While the current figure is still below the all-time high set in 2024, when government Bitcoin holdings reached 529.591 BTC, the recent growth suggests a strategic reconfiguration in the relationship between states and digital assets.

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Seizures, mining, and direct purchases: This is how they accumulate bitcoins. 

The ways governments have accumulated BTC are as diverse as their motivations. In many cases, cryptocurrencies have been obtained through judicial seizures in criminal or civil proceedings, as was the case with the 50.000 BTC seized by Germany in the Movie2K case. 

Other countries, such as El Salvador and Bhutan, have opted for direct purchases or state mining, integrating Bitcoin as part of its strategic reserves or economic development policiesUkraine, for its part, received BTC donations during the conflict with Russia, channeled into humanitarian and military efforts.

This patchwork of methods reflects not only the growing interest of governments in the crypto ecosystem, but also the consolidation of Bitcoin as a financial asset with geopolitical value.

According to data from the Bitcoin Treasuries platform, at the time of writing this article, governments They own 527.032 BTC, whose value amounts to more than $62.900 billion dollars. United States leads this ranking with 198.012 BTC, followed by China, which despite its restrictions on cryptocurrencies maintains a holding of 190.000 BTC, and United Kingdom with 61.245 BTC. In fourth and fifth place are Ukraine and North Korea, whose cryptocurrency holdings are linked to hacks into platforms such as Ronin Bridge and bybit.  

Bitcoin ownership by world governments.
Bitcoin ownership by world governments.
Source: Bitcoin Treasuries

Germany: A sell-off that shook the market

In 2024, government Bitcoin holdings reached 529.591 BTC. However, in July of that year, Germany sold its entire Bitcoin holdings, which amounted to 50.000 BTC. 

The decision, motivated by the need to cover budget deficits, was executed in a context of high volatility and generated significant downward pressure on the global market. The operations were carried out through OTC platforms and institutional exchanges, and although the government managed to secure revenues of more than $2.800 billion, analysts estimate that missed the opportunity to earn up to $3.000 billion more if I had waited for the price rebound that the market experienced at the beginning of 2025.

Experts believe this episode highlighted the risks of fiscal management based on the sale of digital assets, especially during bullish cycles. It also opened the debate on the role of states as holders or liquidators of BTC.

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Bitcoin's Strategic Reserve: A Sovereign Turn

Each government has handled its seized assets differently. While some have opted to sell them when the market price is high, seeking to convert these holdings into quick tax revenue, others have maintained a stricter and more orderly approach. For example, for years, regulations in the United States mandate that bitcoins seized in legal proceedings be sold through public auctions, converting them into cash. This has resulted in periodic sales managed by the Department of Justice or the Treasury, a practice intended to prevent the accumulation or discretionary use of these digital assets. However, this policy is undergoing significant changes.

In March of this year, President Donald Trump signed an executive order redefining the US approach to handling confiscated bitcoins. Instead of selling them, The creation of a Bitcoin Strategic Reserve is established, a concept similar to traditional gold reserves, where BTC is stored as a valuable and strategic asset. This initiative recognizes the importance of this cryptocurrency and digital assets within the economic landscape and suggests a shift toward more institutional and long-term management.

Under this executive order, the United States is preparing to establish a Strategic Reserve with its 198.000 BTC holdings, valued at over $17.000 billion, which Trump has pledged not to sell. In addition, the federal government is preparing a second reserve for other cryptocurrencies such as Ethereum, XRP, Solana, and Cardano, also seized in legal proceedings. The idea is to protect these assets from market volatility and maintain the country's leadership in the crypto ecosystem.

On the other hand, to ensure that this policy transcends a presidential term, a group of US legislators introduced a bill seeking to consolidate this executive order into formal law. If passed, it would ensure the continuity of the Bitcoin Strategic Reserve, establishing a solid legal framework for the public management of these seized cryptocurrencies and setting a unique global precedent.

Towards a global crypto policy

The consolidation of more than half a million BTC in government hands raises questions about the future of Bitcoin as a sovereign asset. While some countries are liquidating their holdings for fiscal or legal reasons, others are moving toward strategic accumulation models. The creation of national reserves, such as those in El Salvador and the United States, could inspire other nations to follow suit, especially in contexts of inflation, geopolitical tensions, or the transition to digital economies.

In this scenario, Bitcoin ceases to be an exclusively private or speculative asset and becomes a tool of public policy, with fiscal, monetary, and diplomatic implications. The 2,5% of the global supply in the hands of governments isn't just a number: it's a sign that the crypto-state is already underway.

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