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BrainBoxNews - Breaking News - Nigeria News - Entertainment News > Blog > Latest News > Ranked: Countries, world governments with the highest Bitcoin ownership
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Ranked: Countries, world governments with the highest Bitcoin ownership

Brainbox
Last updated: 2024/11/29 at 6:09 PM
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Ranked: Countries, world governments with the highest Bitcoin ownership
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Ranked: Countries, world governments with the highest Bitcoin ownership

Bitcoin ownership, though a contentious issue in several countries, has firmly established itself as a significant investment asset.

Bitcoin ownership and cryptocurrency trading in general has elicited a wide range of responses from governments and regulatory bodies, varying from outright bans to full adoption as legal tender.

The legal status of cryptocurrencies differs significantly across jurisdictions and remains undefined or evolving in many regions.

While the use of cryptocurrency is not inherently illegal in most countries, its recognition and acceptability as a form of payment or commodity vary, leading to diverse regulatory implications.

Following Donald Trump’s election victory, Bitcoin reached a historic peak after he pledged during his campaign to prioritize the volatile cryptocurrency. Its value surged by over $6,600 (£5,120), hitting an all-time high of $75,999.04, solidifying its status as one of the most viable investment instruments.

While Bitcoin and other cryptocurrencies remain volatile investments, some individuals and governments have chosen to hold onto Bitcoin, hoping it will continue to surpass previous highs and yield substantial profits.

At one point, individual investors held the majority of Bitcoin as an investment. According to Triple A, by 2024, global cryptocurrency ownership averages 6.8%, with over 560 million crypto owners worldwide.,m

However, the largest Bitcoin holders today are no longer individuals, as exchanges, brokerages, governments, and businesses have taken over the top spots.

While some countries embrace Bitcoin for its potential to drive innovation and economic growth, others remain cautious due to its volatility and the risks of misuse.

The table below, sourced from BitcoinTreasuries, shows the top governments worldwide that hold the largest amounts of Bitcoin;

[th]Rank[/th]
[th]Country[/th]
[th]BTC[/th]
[th]VALUE[/th]
1 USA 207,189 $20,115,269,351
2 China 194,000 $18,834,794,580
3 UK 61,000 $5,922,280,770
4 Ukraine (govt) 46,351 $4,500,059,606
5 Royal Govt of Bhutan 13,029 $1,264,940,920
6 El Salvador 5,942 $576,888,398
7 Finland 1,981 $192,328,495
8 Georgia (govt) 66 $6,407,713

From the table, the United States government holds the most bitcoins. The U.S. holds over 200,000 bitcoins, valued at approximately $20 billion as at November 2024.

As the crypto landscape continues to shift and expand, regulatory frameworks will need to keep pace, walking the fine line between encouraging innovation and preventing risks to ensure a secure and stable financial environment.



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TAGGED: Bitcoin, countries, governments, highest, ownership, ranked, World
Brainbox November 29, 2024
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