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How Many Bitcoins the U.S. Holds — Which Country Has the Most BTC
The U.S. government holds $24 billion worth of Bitcoin, the U.K. holds $7 billion, and Bhutan holds $1.3 billion, according to blockchain analytics firm Arkham, which conducted a wallet-linking investigation. However, the lack of official data on crypto reserves means these estimates may be far from the real numbers.
The U.S. and U.K. acquired crypto through criminal asset seizures, while Bhutan accumulated BTC through mining over several years, gradually integrating it into its economy. Bhutan's Bitcoin reserves exceed 11,280 BTC, mined using hydroelectric power, similar to El Salvador, which both invests in and mines Bitcoin.
Importantly, seized Bitcoin is not always state-owned. In fact, the actual U.S. holdings may be much smaller. Citing the U.S. Marshals Service, Bitcoin Magazine reports that the U.S. government controls only 28,988 BTC (about $3.4 billion), not the 200,000 BTC claimed by Arkham.
Since 2014, the U.S. Marshals have handled seized BTC sales through private auctions. In late June 2024, the agency selected Coinbase Prime as its official custodian and trading platform for seized crypto.
Moreover, no full audit has ever been conducted. In March, David Sacks, appointed by Trump as the U.S. crypto and AI czar, stated:
“The U.S. government holds around 200,000 BTC. But a full audit has never been done.”
That same month, Galaxy Digital head of research Alex Thorn noted that at least 112,000 BTC actually belongs to Bitfinex and should be returned.
“The market understands the difference between ‘seized’ and ‘forfeited’ assets,” Thorn said.
As of July 24, there is no clear evidence the U.S. holds more than $3.4 billion in BTC — nor that it has sold or moved any of the 200,000 BTC referenced by Arkham and Sacks.
The same applies to most countries except El Salvador, which regularly publishes Bitcoin ownership reports via official channels. Since 2021, El Salvador has accumulated 6,247 BTC, worth over $740 million as of July 24, according to the Nayibtracker tool.
Even then, doubts remain. In mid-July, reports indicated that the country hasn’t bought BTC since February 2025, when an agreement with the International Monetary Fund (IMF) took effect — contradicting President Nayib Bukele’s public statements. The Block cited a letter signed by two senior Salvadoran finance officials.
“The increase in holdings in the Bitcoin Strategic Reserve Fund reflects the consolidation of BTC from various government wallets,” an IMF report footnote stated.
Nevertheless, El Salvador continues buying about one Bitcoin per day, and its National Bitcoin Office (ONBTC) under Bukele frequently posts updates about BTC acquisitions on X (formerly Twitter).
