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What is the Remaining Bitcoin Held by Governments After the Sell-offs? Here is the Breakdown of BTC Owned by the US, British, and German Governments!
Arkham data has uncovered that despite recent sales, many governments still possess substantial amounts of Bitcoin, valued at approximately $17.8 billion based on current market prices.
Author:
Elif Azra Güven
05.07.2024 – 14:47
Update:
5 seconds ago
0
Recent data from cryptocurrency analysis platform Arkham indicates that various governments worldwide hold significant amounts of cryptocurrencies in their portfolios, primarily consisting of Bitcoin (BTC) and Ethereum (ETH) worth billions of dollars.
Notably, recent large BTC sales by the US and German governments, stemming from Mt. Gox refunds, have triggered sharp market declines. However, following these sales, Arkham data reveals that many governments still retain substantial Bitcoin holdings, amounting to approximately $17.8 billion at current market rates.
Arkham data shows that the USA, UK, and Germany have confiscated a significant amount of Bitcoin from various criminal cases, while El Salvador continues to acquire Bitcoin daily as part of a national strategy to do so.
The US government leads the pack with 213,297K BTC valued at around $12.21 billion, including a smaller amount of Ethereum (ETH) in addition to BTC. The timing of future US government sales remains uncertain, as they choose not to disclose plans beforehand to prevent market manipulation.
The UK government follows with around $3.3 billion worth of Bitcoin in its possession, while the German government, known for recent Bitcoin sales, holds 41,226K BTC valued at $2.28 billion.
In contrast to other countries, El Salvador’s Bitcoin reserves are part of a national strategy initiated by President Nayib Bukele, with 5,802 BTC valued at $321 million.
*This is not investment advice.
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