Government Bitcoin Rankings: US Tops List, Bhutan and El Salvador Active

The United States, United Kingdom, Bhutan and El Salvador are at the top of the government Bitcoin-holding leaderboard, based on Arkham Intelligence’s latest data.

ARKHAM GOVERNMENT BITCOIN HOLDINGS LEADERBOARD

1. United States – $12.16B
2. United Kingdom – $3.67B
3. Bhutan – $782.46M
4. El Salvador – $351.75M

Honorable Mention – Germany – ZERO (down from $3.56B) pic.twitter.com/hHo7v1QYgC

— Arkham (@ArkhamIntel) September 19, 2024

The US leads the global Bitcoin holdings, with $12.16 billion worth of Bitcoin accounting for 203,239 BTC. Their holdings also include a variety of other digital assets, like Ethereum, showing a broad and diversified investment approach.

A good portion of the US government’s Bitcoin was obtained through law enforcement seizures, such as the Silk Road case, and regular transactions show the ongoing management of these assets.

Read also: Fifth-Largest Bitcoin Wallet holding $2.46B Owned Is by US Government

The UK comes in second, with $3.67 billion in reserves, equivalent to 61,245 BTC. Unlike the US, the UK government hasn’t made any significant cryptocurrency transactions lately, with the last major transfers happening around three years ago. This suggests a more passive approach, focusing on holding Bitcoin for long-term value rather than active trading or diversifying into other assets.

Bhutan and El Salvador: Bitcoin-Focused Strategies

Bhutan holds $782.46 million in cryptocurrency, mostly in Bitcoin, with 13,047 BTC valued at $780.95 million. Besides Bitcoin, Bhutan’s portfolio includes smaller amounts of Ethereum ($1.51M) and other altcoins. The country generates consistent income through Bitcoin mining, with recent inflows from pools like “Foundry USA Pool” and “Ant Pool.”

El Salvador, known for adopting Bitcoin as legal tender, holds $351.75 million in Bitcoin. Its government owns 5,877 BTC and engages in daily transactions, showing active management of its Bitcoin holdings.

Read also: El Salvador Ditches External Debt, Embraces Bitcoin Future

The country’s portfolio has fluctuated over the past year, but has leveled off around $350 million in recent months. El Salvador’s exclusive focus on Bitcoin is in line with its national policy, highlighting its all-in bet despite Bitcoin’s price volatility.

When it comes to transaction activity, Bhutan and El Salvador show frequent inflows, while the UK remains dormant. The US is active, although many transactions are related to seized assets from law enforcement operations.

The US and Bhutan ultimately demonstrate a dynamic approach; to keep growing their portfolio and diversifying them. In contrast, El Salvador and the UK focus more on Bitcoin, though with differing activity levels. Each government’s strategy reflects its unique circumstances and policy priorities.

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