The latest on-chain research shows that the United States leads the world in Bitcoin holdings. As countries and companies increase their Bitcoin holdings, investors and analysts are closely watching this trend. The sheer size of the U.S. Bitcoin holdings is reshaping the discussion about scarcity and value in the cryptocurrency space.
According to Fred Krueger's analysis, of the nearly 20 million Bitcoins in circulation worldwide, the United States holds nearly 8 million, or 40% of the total.
The report shows that if each Bitcoin is valued at $120,000, the total value of Bitcoin held in the United States is approximately $936 billion. Meanwhile, U.S. Bitcoin ETFs saw net inflows of $6 billion in July, the third-strongest month in history for such products, behind only February and November 2024. Bitcoin holdings outside the United States are significantly lower. India ranks second with 1 million bitcoins, representing 5% of the total, valued at approximately $120 billion at current prices. Europe follows closely behind, holding 900,000 bitcoins (4.6%), valued at $108 billion. my country holds approximately 194,000 bitcoins (1%), primarily from seizures, valued at approximately $23.3 billion. Latin America and the rest of Asia each hold approximately 400,000 bitcoins (2%), each valued at $48 billion. Africa and other regions hold a combined 300,000 bitcoins (1.5%). Reports have revealed that US-listed companies are core participants in the Bitcoin market. Strategy leads the pack with 628,791 bitcoins on its books. Marathon Digital Holdings (MARA) follows closely behind, holding 50,000, and XXI Capital holds 43,514. Bitcoin Standard Treasury Company holds 30,021 bitcoins, and Riot Platforms holds 19,225. Donald Trump Media & Technology Group Corp., owned by former US President Donald Trump, also made the list, holding 18,430 coins. These companies, spanning sectors from mining to financial services, highlight the diversification of corporate interest in cryptocurrencies. Data shows that despite an uncertain regulatory environment, cryptocurrency holdings in India are surging. While most holders in the country are small retail investors, the country's large user base has helped it surpass those in Europe. In Europe, both retail and institutional investors are driving cryptocurrency adoption. However, while growth in Europe has been relatively steady, India's compound annual growth rate (CAGR) from 2018 to 2023 is expected to be close to 100%, significantly higher than the approximately 8% seen in traditional payments. This disparity highlights the unique appeal of cryptocurrency to Indian users. Furthermore, a recent Bitbo chart reveals the reserves held by various countries. The chart shows that Bitcoin reserves associated with the United States exceed 200,000, with China holding a similar amount. The United Kingdom ranks third with 61,000 Bitcoins, and Ukraine ranks fourth with 46,000 Bitcoins. Smaller economies such as Bhutan, El Salvador, and Finland hold between 5,000 and 10,000 bitcoins.