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Home » Arkham reports US government as one of the leading states with significant Bitcoin reserves
Arkham reports US government as one of the leading states with significant Bitcoin reserves
Arkham reports US government as one of the leading states with significant Bitcoin reserves

Arkham reports US government as one of the leading states with significant Bitcoin reserves

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By admin on 2024-04-12 Cryptocurrency, Regulations Security

According to data from Arkham, a crypto intelligence platform, the United States government, along with the United Kingdom and Germany, is among the largest holders of cryptocurrencies in the world. Arkham has introduced a dashboard that showcases the governments with the highest crypto holdings. This new tracking tool allows individuals to monitor the real-time balance and transaction history of cryptocurrencies held by governments.

Arkham’s data reveals that the U.S. government is the largest holder of Bitcoin (BTC) among the global states tracked by the platform, currently holding 212,847 BTC, which is worth approximately $15 billion based on current prices. Additionally, the U.S. government holds around $200 million in other cryptocurrencies such as Ether (ETH), USDC, and USDT.

The U.K. government is ranked second, holding 61,245 BTC, worth around $4.5 billion. The German government owns 49,858 BTC, equivalent to roughly $3.5 billion. In comparison, the government of El Salvador, which made Bitcoin legal tender in September 2021, holds significantly fewer BTC, with 5,717 BTC worth $405 million.

The release of Arkham’s dashboard highlighting the top governments by Bitcoin holdings is a significant step towards transparency in cryptocurrency assets owned by whale entities like country states. It also reveals that the U.S. government has been accumulating Bitcoin for several years, adding at least 5,000 BTC since early 2023.

A considerable portion of the U.S. government’s Bitcoin holdings can be attributed to confiscations related to the Silk Road dark web market, the hacker Jimmy Zhong, and the hackers of the Bitfinex crypto exchange. This information provides insights into the activities of governments in the cryptocurrency space and their growing involvement in digital assets.

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