Bitcoin holdings shift from individuals to governments, with the U.S. holding nearly $28 billion

Crypto analyst Willy Woo said nation‑states now own more Bitcoin than private holders. River’s data show 23 countries held Bitcoin in 2025, up from two in 2016. Individuals sold about 696,000 BTC in 2025 while governments added roughly 135,000 BTC. The United States holds the largest reserve – 324,527 BTC, valued at about $28 billion.

The rise in sovereign Bitcoin holdings could affect market liquidity and price dynamics, as governments may acquire or release BTC for policy reasons (the analyst notes). Investors may see increased price volatility if large state reserves are mobilised.

  • 1The number of countries holding Bitcoin rose from two in 2016 to 23 in 2025.
  • 2Individuals reduced their Bitcoin holdings by 696,000 BTC in 2025.
  • 3Nation‑states added 135,000 BTC in 2025.
  • 4The U.S. government holds 324,527 BTC, worth nearly $28 billion.
  • 5Bitcoin price was $85,905, down 0.10% over the prior 24 hours.

Sources