The awareness and understanding of cryptocurrency are imperative in today’s evolving digital financial landscape. Bitcoin is leading the way as the most popular digital asset. Governments, corporations, and individuals always explore new financial avenues. This growing trend shows the positive shift towards decentralised finance, driven by rising financial inclination and innovations.
Countries around the world are not only witnessing an increase in crypto holders but also governments having Bitcoin as part of their national reserves. The acceptance of digital currencies demonstrates an advanced way to modernise economies and improve global financial systems.
In this article, we will look at the top ten countries that hold cryptocurrencies, as well as the governments with the highest Bitcoin holdings.
Top Countries with Most Crypto Holders
As of 2024, countries with the highest number of cryptocurrency holders are:
1. India
Data from Triple-A research shows that India tops the list of highest crypto holders in the world, accounting for around 103 million people or 7.23% of the total population. This suggests that crypto adoption is expanding as people become more aware of cryptocurrencies across the country.
2. China
China has around 58 million crypto holders, accounting for 4.08% of its population. Despite regulatory challenges, the country’s significant tech-savvy population continues to explore digital assets.
3. United States
Approximately 45 million Americans, or 13.22% of the population, hold cryptocurrencies. The United States ranks high due to its advanced financial infrastructure and growing interest in crypto investments with the recent victory of the U.S. President-elect Donald Trump.
4. Vietnam
Vietnam’s 20 million Bitcoin holdings make up 20.54% of the population, demonstrating the country’s flourishing cryptocurrency ecosystem and interest in digital financial technologies.
5. Pakistan
Pakistan has around 15 million crypto owners, which accounts for 6.40% of the population, indicating an increasing use of decentralised finance despite the economic constraints and restricted access to traditional banking.
6. Philippines
Approximately 15 million Filipinos, or 13.02% of its population, own cryptocurrency. The use of crypto in the nation is growing for remittances and digital commerce.
7. Brazil
Brazil has over 15 million cryptocurrency holdings, or 6.98% of its population. The increased usage is driven by a desire to hedge against inflation and explore digital financial options.
8. Nigeria
Nigeria has 13 million crypto holders, which accounts for 5.75% of the population. The mounting interest is because of because of rising youth engagements, remittance demands, and a growing curiosity for Crypto Gaming projects.
9. Indonesia
Around 13 million Indonesians own Crypto, representing 4.55% of the population. The interest is rising from the nation’s growing tech adoption and cryptocurrency’s appeal to a young generation.
10. Iran
Iran’s 12 million cryptocurrency holdings, for 13.46% of the population, represent the country’s need for alternative investments amid the economic sanctions and a chaotic financial landscape.
Governments with Highest Bitcoin Holdings
Following is the list of governments with the most Bitcoin holdings.
1. United States
The U.S. government holds approximately 207,189 BTC, valued at around $20.5 Billion. These assets were mainly obtained through law enforcement seizures from illegal activities.
2. China
The Chinese government has about 194,000 BTC, worth nearly $19.2 Billion. These holdings derive from the 2019 crackdowns on the Ponzi schemes, where authorities confiscated the assets.
3. United Kingdom
The United Kingdom government holds around 61,000 BTC, valued at approximately $6 Billion. This amount was seized from criminal activities, notably from a significant investment scam.
4. Ukraine
The government of Ukraine has about 46,351 BTC, valued at around $4.6 Billion. These assets were acquired through donations and confiscations amid ongoing conflicts, highlighting the role of cryptocurrencies in modern warfare funding.
5. Bhutan
Bhutan’s government holds approximately 13,029 BTC, worth about $1.3 Billion. This Himalayan kingdom has quietly accumulated Bitcoin, utilising its hydroelectric power for mining operations.
6. El Salvador
The Government of El Salvador holds around 5,942 BTC, valued at approximately $588 Million. As the first country to adopt Bitcoin as legal tender, it continues to invest in cryptocurrency to promote financial inclusion and economic growth.
7. Finland
The Finland government holds about 1,981 BTC, worth nearly $196 Million. These assets were seized during criminal investigations and are managed by the country’s customs agency.
8. Georgia
The Georgian government has approximately 66 BTC, valued at around $6.5 Million. This holding reflects the country’s cautious approach to cryptocurrency assets.
9. Germany
Germany had significant Bitcoins through seizures but those assets are sold now. The proceeds are typically directed to state coffers, aligning with legal protocols.
10. Australia
Similar to Germany, Australia has confiscated Bitcoins through law enforcement actions but does not currently hold substantial amounts, as seized assets are usually auctioned off.
Conclusion
The rapid growth in the acceptance of cryptocurrency shows the potential of digital assets in transforming the global financial system. The countries such as India, Vietnam, and the United States have hundreds of thousands of crypto holders, highlighting how digital currencies are breaking boundaries. Governments are also holding Bitcoins, exploring its worth to drive economic modernisation and handle financial crises.
As cryptocurrencies gained popularity, their incorporation into traditional financial systems became unavoidable. With countries and governments adopting Bitcoin and other digital currencies, the transition to decentralised finance marks a new era of economic innovation.
