Bitcoin isn’t just a favourite among retail traders and tech-savvy investors anymore; it’s now a strategic asset for entire nations. Over the past few years, several countries have been adding Bitcoin to their reserves, either directly through government holdings or indirectly via institutions under their control.
In 2025, the race to secure a slice of the world’s most famous cryptocurrency has intensified, with some nations viewing it as a hedge against inflation, a tool for financial independence, or even a geopolitical advantage.
Let’s discuss the top countries that own the most Bitcoin in 2025, based on verified holdings and credible estimates.
Methodology: How National Bitcoin Ownership is Measured
Measuring crypto holdings by country requires a blend of onchain analysis, official records, and indirect asset tracking. The most transparent data comes from government disclosures, such as official reserve statements or public announcements from central banks and finance ministries.
Many holdings in this article, however, are identified through sources like Bitcoin Treasures, CoinGecko, and World Population Review, which trace wallet addresses known to be associated with governments or state-linked entities. A key distinction in this analysis is separating direct government-controlled Bitcoin from holdings via public institutions.
Direct holdings are those explicitly owned or controlled by the state, while indirect holdings refer to assets managed by government-backed funds, pension plans, or publicly owned companies. This separation ensures a clearer picture of a nation’s actual strategic reserves versus market-linked exposure through regulated entities.
The Top 10 Countries Holding Bitcoin in 2025
Here’s a look at some of the most notable crypto holdings by country in 2025:
Many holdings are identified through blockchain analytics sources like Bitcoin Treasures, CoinGecko, and World Population Review.
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United States (US)
The United States holds approximately 198,012 BTC as of August 9, 2025, worth $22.8 billion. These reserves are largely the result of high-profile law enforcement seizures, including assets from the Silk Road investigation and the Bitfinex hack.
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China
China owns around 190,000 BTC as of August 9, 2025, valued at $21.88 billion. Most of these holdings were confiscated from the PlusToken Ponzi scheme, a massive fraud that impacted the global crypto market.
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United Kingdom (UK)
The United Kingdom holds roughly 61,245 BTC as of August 9, 2025, worth $7.05 billion. The majority of this Bitcoin came from law enforcement seizures linked to cybercrime, money laundering, and illicit online marketplaces.
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Ukraine
Ukraine is rumoured to possess approximately 46,351 BTC as of August 9, 2025, valued at $5.33 billion. Much of this came through international donations during the Russia-Ukraine conflict, highlighting Bitcoin’s role in geopolitical crowdfunding.
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Bhutan
Bhutan holds about 11,286 BTC as of August 9, 2025, worth $1.3 billion. The nation mines much of its Bitcoin using abundant hydropower resources, combining renewable energy with digital asset accumulation.
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United Arab Emirates (UAE)
The United Arab Emirates reportedly holds 6,300 BTC as of August 9, 2025, valued at around $740 million. While these figures remain unconfirmed, industry speculation suggests the holdings stem from sovereign investment initiatives and private sector partnerships, positioning the UAE as a major player in global Bitcoin accumulation.
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El Salvador
El Salvador owns around 6,255 BTC as of August 9, 2025, valued at $720.9 million. The country continues its pioneering Bitcoin-as-legal-tender strategy, making periodic purchases to strengthen its reserves.
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North Korea
North Korea, through the Lazarus Group, is estimated to control 804 BTC as of August 9, 2025, worth $92.54 million. These assets are believed to be linked to cyberattacks and hacking operations targeting exchanges and DeFi platforms.
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Venezuela
Venezuela holds about 240 BTC as of August 9, 2025, worth $27.6 million. These holdings are primarily linked to state-run mining efforts and assets seized from illicit operations.
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Finland
Finland maintains approximately 90 BTC as of August 9, 2025, worth $10 million. These assets came from criminal seizures, with the government periodically auctioning portions of its holdings.
Implications for the Global Bitcoin Market
When a large share of Bitcoin is held by a handful of countries, market liquidity can become more fragile. If these governments decide to buy aggressively, it can push prices higher in the short term, fueling volatility.
On the flip side, a coordinated sell-off or even a single major nation offloading its reserves could send shockwaves through the market, triggering steep price drops. This means that ordinary investors have less influence over Bitcoin’s price direction.
Influence on Bitcoin regulation and international trade
Countries with substantial Bitcoin holdings may be more inclined to introduce favourable regulations that protect or increase the value of their reserves. Conversely, nations without significant holdings could push for stricter policies to slow crypto adoption and maintain traditional currency dominance.
As Bitcoin becomes more integrated into global commerce, these regulatory differences could influence trade agreements, settlement methods, and cross-border payment systems.
Potential for “Bitcoin diplomacy” in geopolitics
Just as oil-rich nations have historically wielded “energy diplomacy,” Bitcoin-rich states could use their holdings as a geopolitical tool. A country might leverage its reserves to negotiate trade deals, offer Bitcoin-denominated loans, or influence international policy.
In a crisis, Bitcoin could even serve as a financial lifeline for nations facing sanctions, allowing them to bypass traditional banking channels. Over time, this could make Bitcoin not just a store of value but also a significant driver of global power dynamics.
READ ALSO: Bitcoin HODLing Strategy in 2025: Is Holding Still the Smartest Move?
Final Thoughts: The Road to 2030
By 2030, it’s likely more nations will officially declare Bitcoin holdings, especially as digital assets gain legitimacy through Bitcoin ETFs and corporate-state partnerships. These developments could make BTC a strategic component of national reserves, much like gold today.
If crypto adoption accelerates, Bitcoin could evolve into a de facto global reserve asset, influencing trade, finance, and monetary policy. However, its volatility, regulatory uncertainty, and technological risks will remain major hurdles on the road to that status.
Disclaimer: This article is intended solely for informational purposes and should not be considered trading or investment advice. Nothing herein should be construed as financial, legal, or tax advice. Trading or investing in cryptocurrencies carries a considerable risk of financial loss. Always conduct due diligence.
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