Government Bitcoin Holdings: A Potential Market Mover?
The recent sale of nearly 50,000 Bitcoin by the German government, seized from the pirated movie website movie2k, has sparked interest in the potential impact of government-held Bitcoin on the market.
According to data from Bitcoin Treasuries, almost 517,414 BTC (approximately $32.9 billion) could flood the market if all nine governments currently holding Bitcoin decided to sell their reserves.
Government Bitcoin Holdings
- United States: 213,246 BTC, primarily from Silk Road seizures. The US has already sold some of its holdings, with the last sale occurring on April 2nd.
- China: 190,000 BTC, believed to be from the Plus Token scam.
- United Kingdom: 61,000 BTC, seized from an ex-takeaway worker convicted of money laundering.
- Ukraine: 46,351 BTC.
- El Salvador: 5,800 BTC. El Salvador has adopted Bitcoin as legal tender and has been actively accumulating it since September 2021.
- Bhutan: 621 BTC.
- Venezuela: 240 BTC.
- Finland: 90 BTC.
- Georgia: 66 BTC.
Fund Managers Holding Bitcoin
Asset managers like BlackRock have been accumulating Bitcoin through their exchange-traded funds (ETFs). These fund managers hold a collective total of over 1 million BTC.
- BlackRock: 316,276 BTC (IBIT Spot Bitcoin ETF).
- Grayscale: 272,661 BTC (GBTC Spot Bitcoin ETF).
- Fidelity: 176,995 BTC.
- Ark Invest: 47,764 BTC.
- Bitwise: 39,661 BTC.
The potential impact of government and fund manager Bitcoin holdings on the market remains a topic of discussion.
