The treasuries of states · reported holdings
Governments hold Bitcoin for very different reasons — a declared strategic reserve, coins seized in criminal cases, state-run mining. Here is who holds what, ranked, with the basis for each figure. 7 states, roughly 484,690 BTC (~$31B) between them.
bubble size = reported BTC held · tap a country for its Bitcoin profile
Seized coins (Silk Road, Bitfinex-hack recovery); designated the Strategic Bitcoin Reserve in 2025. · as of 2025-03
PlusToken Ponzi seizure (2019). Current custody and whether any was sold are undisclosed. · as of 2024-01
Seized in a 2018 money-laundering case; subject of ongoing recovery proceedings. · as of 2024-06
Chain-analysis estimate of balances tied to state-linked hacking groups. Illicit origin; figures uncertain. · as of 2025-01
Mined by state-owned Druk Holding & Investments using hydropower (analyst-estimated). · as of 2025-01
Public strategic reserve — the government publishes its wallet address and adds regularly. · as of 2025-06
Remainder after auctioning most of its earlier seized holdings. · as of 2024-01
Method & caveats
Governments rarely disclose holdings precisely, so every figure is a reported, best-effort estimate labelled by basis: published (the state publishes an address), seized (court/agency records), mined (state mining, analyst-estimated), or reported (media / chain-analysis, custody less certain). Seized and illicit balances in particular move and may be partly sold. Sold-to-zero holders are excluded. Cross-reference figures with an established aggregator like BitcoinTreasuries. Corrections welcome — this is a curated list, not an oracle. See also the corporate treasuries map (companies, by HQ country).