As bitcoin’s (BTC) price reached new all-time highs of $118,000, countries with the currency in their reserves or under the control of authorities have seen gains in the multi-millions, if not billions.
According to Arkham, the US holds 198,000 BTC, which is now worth almost $23.4 billion, and will be put towards the strategic BTC reserve announced by President Donald Trump earlier this year.
It’s risen by over $3 billion since its previous highs in January.
Meanwhile, the UK holds 61,245 BTC, seized from a large-scale money laundering scheme. It’s been under police control since at least 2021, and in the four years since, it’s risen by $4.86 billion to $7.26 billion.
The UK government currently has no plans to turn it into a reserve.
Read more: Reform UK could make Labour think twice about bitcoin reserve
Bhutan, the picturesque Himalayan nation, also holds around 11,600 BTC via its Druk Holdings firm. This figure is made up of BTC obtained through its crypto mining operation, which was boosted by BTC mining firm Bitdeer and its co-founder Jihan Wu.
The country’s stash is now worth over $1.37 billion.
El Salvador, which is run by Nayib Bukele, a dictator with a love for BTC and an inhumane justice system, holds 6,234 BTC, now worth almost $740 million.
He was ordered by the IMF to cease certain BTC policies, but this hasn’t stopped him from buying more.
Read more: Bitcoin dev Jon Atack got arrested in El Salvador this weekend
Ukraine officials reportedly hold over 46,000 BTC, which would be worth $5.7 billion today. These figures don’t equate to state holdings of BTC, and BTC trackers claiming otherwise have been criticized for classing it as state holdings with zero evidence.
China is the same. BTC treasury tracker Bitbo claims the country holds 194,000 BTC obtained through a seizure.
However, crypto analysts have noted that there’s no proof they still own this BTC, which may well have been liquidated already.
Germany, which seized almost 50,000 BTC, sold it for $2.88 billion in July 2024. This is standard procedure for many governments seizing crypto that don’t have BTC reserves.
If it had followed Trump’s lead, however, its stash may have been worth $5.88 billion by now, a $3 billion difference.