Does The US Government Own More Bitcoins Than Any Other BTC Holder?

Bitcoin, the largest crypto, is continuously growing,as it just hit $50k recently. This coin is attracting adoption from millions of investors globally. Most of the investors want to own a fraction of BTC in their portfolio.

However, there has always been the question of who owns the most BTC. Why? Because the largest BTC holder could be among the wealthiest people in the globe in the future. Some suggest that the United States government is the biggest BTC holder currently. But is that true?

This guide will look into the amount of BTC the US government owns. Afterwards, it will consider the BTC owned by other top institutions.

The US Government Bitcoin Holding

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The US government has always been very open about the amount of BTC it owns. Generally, it receives bitcoin after crackdowns on illegal bitcoin and crypto activities. The very first day the US government said it had a bitcoin holding was in 2013.

In 2013, the US government started its crackdown against the Silk road. The silk road was a well-known black market for all sorts of things. In fact, people would go to the website to hire killers, buy guns, and fake documents. This marketplace used bitcoin as the money exchange since it’s untraceable.

US authorities found out about the marketplace and immediately shut the website down. In the process, the US government recovered 30k BTC. According to several reports, this 30k BTC was in a wallet belonging to the platform’s founder. Afterwards, the US government sold the BTC to Tim Draper.

In 2020, the US government managed to recover another portion of the BTC used in the marketplace. It amounted to 70k BTC. Since they didn’t announce any sales of these assets, it’s safe to assume that they still hold the amount.

In May, the US government recovered 63.7 BTC. Colonial Pipeline paid the BTC to Darkside Ransomware attackers. Combining the amounts, the US government might currently be holding around 70063.7 BTC. So, is the US the biggest bitcoin holder?

Large Institutional Bitcoin Holders

Grayscale Bitcoin Trust

Grayscale is the largest known bitcoin holder. This platform is a hedge fund allowing investors to gain exposure in BTC. It’s one of the top hedge funds globally, showing immense support for Bitcoin.

Currently, Grayscale trust owns almost 650 thousand BTC. It’s the institution with the largest bitcoin holding.

Block.One

Block1 comes in second in the size of bitcoin holding. This company has been a significant player in the crypto world, incubating over 140 businesses. Furthermore, Block1 invested $4 billion in crypto. But, how much bitcoin does Block1 own?

The most recent statistics show that Block1 has over 140 thousand in BTC investments. Indeed, such holding puts them in second.

Microstrategy

The third-largest institutional shareholder of BTC is Microstrategy. Microstrategy is an organization providing cloud-based services, business intelligence, and mobile software.

This company has been acquiring bitcoin and adding to its portfolio. Currently, Microstrategy holds over $100k BTC valued at over $5 billion.

Governments Bitcoin Holding

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Bulgarian Government

Currently, the Bulgarian government stands as the largest holder of BTC. This government owns over 213 thousand BTC coins. Bulgaria got this BTC after a crackdown on illegal activities. 213 thousand BTC is larger than any other government holds.

Chinese Government 

China is another government with massive numbers of cryptos. In 2020, the country released a report detailing how much crypto they own. This BTC amount came from a crackdown against illegal activities in the country.

Generally, China owns different assets, including Ethereum, XRP, and Litecoin. However, the country has a share of over 190 thousand BTC. After processing the legalities, the Chinese government handed the funds to the treasury. If the treasury still holds the assets, China is second in the governments with the most extensive bitcoin ownership.

Does The US Government Hold More Bitcoin?

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The most straightforward response to the question is no. The US government does not hold the largest share of Bitcoin globally. Many top institutions have crypto holdings bigger than anything the US government collected.

It’s not clear if the US government still holds all the BTC from illegal activities. In the first case, the US government sent the BTC to a top investor. It’s possible that the government did the same with the other funds it collected. CNBC shows that the US Marshall has held over 185 thousand BTC and sold most of them to date.

Final Word

After looking into the bitcoin whales, it’s clear that the US is not the largest bitcoin holder. In fact, the government may not even own any bitcoin. Often, the US government sells the BTC. Whatever the case, the US is not the largest bitcoin holder in the clone.