U.S. Bitcoin Possessions Exceed Overseas Assets by 65%
The United States has emerged as the world's largest holder of Bitcoin, a position attributed to a combination of factors including government seizures, corporate acquisitions, and the presence of Bitcoin exchange-traded funds (ETFs).
MicroStrategy, a notable company for its Bitcoin acquisitions, currently holds 447,470 BTC, with 258,320 of these purchased in the year 2024. However, it's important to note that MicroStrategy's BTC holdings do not currently contribute to the total net inflow to Bitcoin ETFs. As of the latest data, the total net inflow to these Bitcoin ETFs stands at $106.82 billion, representing 5.74% of Bitcoin's overall market capitalization.
The US government, through seizures from major cases, controls nearly 200,000 BTC. This, combined with the substantial holdings by publicly traded companies like MicroStrategy and private companies, collectively represents a significant share of global Bitcoin ownership.
The approval and subsequent growth of Bitcoin ETFs in the US, such as the 11 spot-based Bitcoin funds approved in January 2024, have played an important role in expanding investment participation beyond individual holders to institutions and coordinated funds. These ETFs aggregate large amounts of Bitcoin, contributing further to US dominance in Bitcoin holdings.
The comparison of Bitcoin reserves was made between crypto miners, exchanges, ETFs, companies like MicroStrategy, governmental bodies, and other organizations, both inside and outside the US. By September, the gap between U.S. and non-U.S. Bitcoin holdings widened to 25%. Ki Young Ju, CEO of CryptoQuant, states that private and governmental entities in the United States collectively hold 65% more Bitcoin than their counterparts worldwide.
It's worth noting that the sale of the seized BTC by the Department of Justice does not directly affect MicroStrategy's BTC holdings. However, the sale could potentially impact the overall Bitcoin market. As of January 7, 2025, MicroStrategy's BTC holdings do not include any Bitcoin seized from the Silk Road marketplace.
The US government's strategic approach to maintaining and potentially growing government-held Bitcoin as a significant national asset is evident in the formal creation of a Strategic Bitcoin Reserve in 2025 under President Trump's executive order. Companies like MicroStrategy have also been key players by accumulating substantial Bitcoin reserves as part of their treasury strategy, helping solidify US corporate dominance in Bitcoin ownership.
In conclusion, the US dominance in Bitcoin holdings—sometimes estimated as holding about 40% (though some sources question the accuracy of such high estimates)—stems from a combination of government seizure accumulation, aggressive corporate buying by US-listed companies, and regulatory frameworks enabling Bitcoin ETFs that broaden institutional investment access. This multi-faceted ecosystem has positioned the US as the largest holder of Bitcoin globally.
- The strategic acquisition of Bitcoin by companies like MicroStrategy, along with the approval and growth of Bitcoin ETFs in the US, demonstrate how technology has revolutionized finance and investing, allowing institutional participation in the Bitcoin market.
- The significant share of global Bitcoin ownership held collectively by US governmental entities, companies such as MicroStrategy, and private organizations, has been attributed to a combination of factors including government seizures, corporate acquisitions, and the presence of Bitcoin exchange-traded funds (ETFs), solidifying the US's position as the world's largest holder of Bitcoin.
