Ukraine: awakening of a strategic Bitcoin reserve

Donald Trump, current American president, has continuously praised on social media the merits of a strategic reserve in bitcoin. This idea of a state digital

Current American president Donald Trump has continuously praised on social media the merits of a strategic reserve in bitcoin. This idea of a state digital safe now resonates in Ukraine, a country receiving aid and donations from around the world. As the war rages on, Kyiv is considering formalizing a BTC reserve. But this ambition raises as many hopes as questions. Is Ukraine awakening to crypto as a new economic and strategic weapon?

Ukraine: the awakening of a strategic Bitcoin reserve

Ukraine is among the largest state holders of bitcoin. According to BitcoinTreasuries, its government wallets reportedly hold around 46,351 BTC, valued at nearly 4.8 billion dollars. This reserve mainly comes from massive donations, cryptocurrency seizures, and fundraising initiatives.

This topic was recently raised by Yaroslav Zhelezniak, deputy and vice-chair of the finance committee at the Rada, who confirms that “the bill is in the finalization phase and will soon be submitted to Parliament“. He had already mentioned the idea of a crypto reserve in February 2025 without revealing details.

Moreover, Binance actively supports this initiative, while highlighting that “creating such a reserve will require significant legislative changes“.

Indeed, Ukraine is positioning itself as an emerging player in crypto regulation, where the creation of a national bitcoin reserve symbolizes a new economic strategy. But the legislative and political stakes are high.

The legislative and political stakes of the crypto reserve

The legislative path is proving difficult. Although the Rada approved a virtual assets bill at the end of April, this text was withdrawn under pressure from the presidential office and the National Securities Commission. However, the latter specified it was not responsible for the blockage while proposing 80 amendments to improve the legal framework.

This approach showcases the political complexity around crypto in Ukraine, striking a balance between the desire for innovation and the need for institutional caution.

However, Kirill Khomyakov, Binance regional head, believes this initiative should ultimately “lead to greater clarity in the regulation of crypto assets in Ukraine“.

Ultimately, adopting a bitcoin reserve is not only an economic issue but also a political battle to structure crypto sector governance in a country in crisis.

Crypto and numbers: increasing interest in the State reserve

Interest in the bitcoin reserve now goes beyond the Ukrainian borders. In the United States, Donald Trump signed an executive order in March 2025 to establish a federal strategic bitcoin reserve. This reserve will collect BTC seized in judicial cases and may also pursue other avenues for acquiring bitcoin.

Here are some key figures to remember about Ukraine:

* These figures reflect a real interest in state crypto reserves. They also testify to the rapid evolution of a crypto sector mixing finance, politics, and sovereignty.

The idea of a state bitcoin reserve appeals to some countries, but others, like Switzerland or the United Kingdom, remain more cautious. These governments are more sensitive to the volatility of crypto assets and the regulatory risks they pose. They consider this approach premature and potentially disruptive to monetary policy.

Furthermore, technological challenges and concerns over the digital assets’ security hamper their rapid adoption.

Thus, the creation of a BTC reserve is not a universally validated concept but an emerging trend. It is mainly driven by countries like the United States and Ukraine, who are seeking new avenues for economic diversification and recovery.