US Tops UK and Germany in Bitcoin Holdings — Arkham Reports
Crypto intelligence firm Arkham’s recent data on states holding Bitcoin (BTC) ranked the US government top ahead of the UK and Germany. Arkham’s intelligence showed that the US government holds 212,847 BTC while the UK and Germany’s Bitcoin treasuries are 61,245 and 49,858, respectively.
Data captured by Arkham shows that the US government has the largest stockpile of the leading crypto by market value. The Bitcoin held by the US leads other global states, including the UK and Germany, despite the apparent reluctance to approve the digital assets as legal tender, unlike in El Salvador.
In recent years, the crypto intelligence firm has committed to deanonymizing parties on the blockchain network. The firm unveiled a dashboard illustrating the governments with the highest crypto holdings.
Arkham’s report on Friday, April 12, illustrates that the new tracking tool allows individuals to observe the real-time balances and transactions’ crypto trail that various governments hold.
US Government’s Bitcoin Worth $15 Billion
The Arkham’s data shows the US is among the leading Bitcoin whales relative to other states tracked by the firm. Its 212,847 Bitcoin translates to $15 billion relative to the current prices.
The Arkham reveals that the US government holds other crypto assets, including Ether (ETH). Also, the US government holds leading stablecoins, including Tether’s USDT and Circle’s USDC Coin (USDC).
The UK ranks second in holding 61,245 Bitcoins at press time, the market value of which translates to $4.5 billion. The Arkham’s data ranks the German government third, owning 49,858 Bitcoin, which translates to approximately $3.5 billion.
Arkham data shows the El Salvador government has not broken into the countries holding Bitcoin. Central American countries hold 5,717 Bitcoins, estimated to be $405 million in market value. Despite granting legal tender status to Bitcoin in September 2021, it has significantly less Bitcoin.
US Adds Bitcoin from Seizure
The unveiling of crypto tracking in Arkham’s dashboard focusing on Bitcoin holdings among governments is a critical milestone in digital assets. The move is set to bolster transparency by revealing the crypto held by whales such as country states.
Arkham’s data offers a glimpse of information the public has yet to access. The public has been in the dark regarding the Bitcoin holdings by the US government.
Arkham’s dashboard reveals that, like the UK and Germany, the US continues to add Bitcoins in recent years. Since early last year, the US has added over 5,000 Bitcoins.
A substantial source of US government Bitcoins arises from confiscations executed. In particular, it holds Bitcoins seized from the crypto exchange Bitfinex and Silk Road hacker Jimmy Zhong.
