Governments Worldwide Hold 463,741 BTC, Roughly 2.3% of Bitcoin's Total Supply

This figure reflects a decline from 529,591 BTC in July 2024, underscoring the dynamic nature of government involvement in cryptocurrencies.

As of April 2025, governments worldwide hold 463,741 BTC, valued at approximately $42.9 billion, according to CoinGecko’s research. This figure represents a decline from 529,591 BTC in July 2024, highlighting the dynamic nature of government involvement in cryptocurrencies.

Meanwhile, a separate CoinGecko report focusing on GeckoTerminal data reveals that over 50% of the nearly 7 million cryptocurrencies listed since 2021 have failed, with 3.7 million projects no longer trading.

These developments showcase both the strategic role of governments in the crypto space and the volatile, high-risk nature of the broader cryptocurrency market.

How Governments Are Accumulating Bitcoin

Governments acquire Bitcoin through various means, including seizures from illicit activities, direct purchases, sustainable mining endeavors, and donations. Their strategies and motivations differ widely.

The United States remains the largest holder, with 198,012 BTC, valued at $18.3 billion. This stash is primarily derived from seizures related to the Silk Road darknet market and the Bitfinex and Shapeshift hacks.

However, recent liquidations and President Trump’s March 2025 executive order to establish a “Digital Fort Knox” indicate a shift toward viewing Bitcoin as a strategic reserve asset.

China, despite its crypto trading ban, holds 194,000 BTC, valued at $17.6 billion. This accumulation stems from the 2019 PlusToken Ponzi scheme, and the Chinese government’s plans for these coins remain undisclosed.

The United Kingdom holds 61,000 BTC, valued at $5.6 billion, which were acquired through crime-related seizures. The government is currently debating whether to liquidate these coins or repurpose them for public finance.

In contrast to larger nations, smaller countries like Bhutan and El Salvador are actively engaging in smaller-scale but consistent bitcoin accumulation.

Bhutan’s 8,594 BTC, valued at $795.4 million, are being mined using sustainable hydroelectric power, showcasing a unique approach to government-led crypto accumulation.

El Salvador, having already integrated bitcoin into its legal tender system, continues its experiment with purchasing 1 BTC daily, bringing its total to 6,135 BTC, valued at $567.8 million.

On the other hand, Ukraine, which received significant bitcoin donations during the ongoing conflict, has liquidated most of its 256 BTC to fund military and humanitarian efforts.

Government Liquidations Impact Bitcoin Price

The mid-2024 sale of 46,359 BTC by Germany for fiat currency at prevailing market rates had a substantial impact, triggering a 15.7% drop in the bitcoin price within a single day.

This liquidation was attributed to budget constraints and legal mandates to convert seized assets into fiat. It highlights how governments' actions can influence bitcoin's value.

While selling a portion of its bitcoin stash, Germany plans to retain a portion for long-term use, striking a balance between immediate fiscal needs and holding a strategic asset.

The German government's decision to liquidate its bitcoin holdings was a significant event that had immediate consequences for the cryptocurrency market.

The interplay between government bitcoin holdings and the high failure rate of other cryptocurrencies signals a broader shift in the macroeconomic landscape.

Over 50% Of Nearly 7 Million Cryptocurrencies Listed On GeckoTerminal Since 2021 Have Failed

CoinGecko’s analysis of GeckoTerminal data reveals that 52.7% of the nearly 7 million cryptocurrencies listed since 2021 have failed, with 3.7 million projects no longer trading.

The first quarter of 2025 alone saw 1.8 million failures, rendering 49.7% of all project collapses between 2021 and 2025.

This surge in failures coincides with market turbulence following Donald Trump’s January 2025 inauguration, which may have exacerbated volatility and contributed to the downfall of several crypto projects.

The explosion of new projects, particularly in 2024, fueled this trend. That year saw 3 million new cryptocurrencies launched, triple the number launched in 2023.

This surge was driven by platforms like pump.fun, which simplified token creation and led to a flood of meme coins and speculative projects.

However, 1.4 million projects failed in 2024, collecting 37.7% of the total failures over the five-year period. In contrast, failures between 2021 and 2023 were significantly lower, comprising just 12.6% of the total.

The high failure rate among these tokens can be attributed to several factors. Many projects