This article takes stock of the Bitcoin holdings and recent trends in 5 countries, with these countries collectively holding over 518,000 BTC, accounting for over 2.4% of the total Bitcoin supply, with the vast majority coming from law enforcement actions. In terms of profitability, apart from the United States having sold over 190,000 BTC and Germany having transferred 20% of its holdings, the rest have not undergone large-scale sales.

Author: Nancy, PANews

The cryptocurrency market has recently been "on thin ice," with the market's fear index reaching a high point. In addition to Mt. Gox's imminent launch of a Bitcoin compensation plan, the consecutive large transfers in the United States and Germany have exacerbated investors' anxiety, although the current selling volume is small enough for the market to absorb in its entirety during volatile market conditions.

In fact, national-level Bitcoin whales have become an undeniable presence, and changes in their holdings have become a focus of market attention. This PANews article takes stock of the Bitcoin holdings and recent trends in 5 countries, with these countries collectively holding over 518,000 BTC, accounting for over 2.4% of the total Bitcoin supply, with the vast majority coming from law enforcement actions. In terms of profitability, apart from the United States having sold over 190,000 BTC and Germany having transferred 20% of its holdings, the rest have not undergone large-scale sales.

United States Government: Profit exceeds $360 million to date, limited impact from recent sales

The United States government holds the most Bitcoin. According to Arkham data, as of June 27, the US government holds over 213,000 BTC, worth over $12.97 billion, with these bitcoins coming from Silk Road, the Bitfinex hack, hacker James Zhong, and other law enforcement actions. According to Jameson Lopp, co-founder of Casa, since 2014, the US government has seized and sold at least 195,091 BTC, with profits exceeding $366 million.

In the past week, the US government sent 3,940 BTC to Coinbase Prime, with these funds coming from an Indian dark web drug trafficking case, valued at approximately $240 million. However, according to CryptoQuant CEO Ki Young Ju's analysis, this transaction has had little impact on the market. This is because Coinbase Prime handles 20,000 to 49,000 BTC of sell orders during high point spot ETF inflows and 6,000 to 15,000 BTC during low point inflows.

Chinese Government: Over 190,000 BTC from pyramid scheme case, rumors of recent sales unverifiable

The Chinese government ranks second in terms of Bitcoin holdings. According to Bitcoin Treasuries data, the Chinese government holds 194,000 BTC, worth $11.84 billion, with these bitcoins seized from the PlusToken pyramid scheme case in 2020. Recently, there have been rumors in the market that the Chinese government is "selling off" its holdings, but due to the lack of accurate tracking addresses, the specific changes in Bitcoin holdings are currently unknown.

British Government: Over 60,000 BTC seized in Chinese money laundering case, no sales conducted to date

The British government is also one of the largest Bitcoin holders. According to Arkham data, the British government currently holds approximately 61,000 BTC, worth over $3.72 billion, with no transfer activity to date. It is worth noting that these bitcoins of the British government mainly come from a Chinese money laundering case involving a staggering $43 billion, making it the largest Bitcoin money laundering case in the country to date.

Related reading: 61,000 Bitcoins Frozen, Mastermind of the World's Largest Money Laundering Case Flees with $6.3 Billion

German Government: Seized from pirated movie website, transferred 1/5 of Bitcoin holdings

The German government also acquired a large number of bitcoins in law enforcement actions. According to Arkham data, as of June 27, the German government still holds approximately 45,000 BTC, currently worth over $2.75 billion. Previously, the German government held approximately 50,000 BTC, with these bitcoins mainly seized from the operator of the pirated movie website Movie2k, making it the largest Bitcoin seizure in the history of German law enforcement. Over the past week, the German government's Bitcoin holdings have seen frequent movements, with approximately 8,495 BTC being transferred to market makers such as Flow Trader, Kraken, Bitstamp, and Coinbase, accounting for less than one-fifth of the current holdings.

El Salvador: Unrealized gains exceed $50 million, no selling plans

After implementing a strategy to continuously purchase 1 Bitcoin daily, according to Arkham data, as of June 27, El Salvador has acquired approximately 5,794 BTC, currently worth around $350 million, with unrealized gains exceeding $50 million. Nayib Bukele, who was successfully re-elected as President of El Salvador, has stated that there are no plans to sell Bitcoin, and the country has also launched its own mempool space to track its Bitcoin treasury assets in real time.

In addition, the Bitcoin holdings of Russia and North Korea are also worth noting. Although the exact holdings of these countries cannot be determined, they play important roles in the cryptocurrency market. Russia currently holds approximately 11% of the Bitcoin mining share globally, ranking third in the world. North Korea has stolen a total of $2 billion in cryptocurrency from 2018 to 2023, with $600 million stolen just last year.

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