The Chinese and US governments hold $23.2 billion! Two pictures show the cryptocurrency whales: Musk ranks only fourth...

FX168 Financial News Agency (Europe) According to data collected by Arkham Intelligence and Bitcoin Treasuries, the Chinese government's cryptocurrency holdings are estimated to be $11 billion so far in 2024, and the US government's holdings are ranked first with $12.2 billion. In terms of companies, billionaire Elon Musk's Tesla is only ranked fourth, lagging behind MicroStrategy's $14.768 billion.

According to on-chain data, the list of governments holding the most cryptocurrencies in 2024 is as follows:

• United States: $12.2 billion
• China: $11 billion (estimated)
• United Kingdom: $3.5 billion
• Ukraine: $3 billion
• Bhutan: $761 million
• El Salvador: $342 million
• Germany: $404.88

Read more: MicroStrategy Issues $875 Million in Convertible Bonds to Acquire More Bitcoin, Holdings Approach 245,000 BTC

Bitcoin Treasuries statistics show that among companies holding Bitcoin, Tesla ranks only fourth, with a holding value of $5.863 billion. MicroStrategy's holdings are worth $14.768 billion, which means it has surpassed the holdings of the Chinese and US governments.

Source: Bitcoin Treasuries

Bitcoin has quickly become one of the world's most popular stores of value, and governments around the world now hold billions of dollars worth of Bitcoin and other cryptocurrencies, making it a modern economic force.

Bhutan has emerged as one of the richest cryptocurrency holders, currently holding more than $770 million in Bitcoin.

The country's holdings are more than double those of fellow Bitcoin supporter El Salvador, which holds about $350 million in Bitcoin.

It also holds 656.03 Ether (ETH), worth $1.52 million. That's an unusually large portfolio for a country with a population of less than 1 million. But it looks like BitDeer is leading a huge Bitcoin mining operation.

The Singapore-based company began working with the Bhutanese government in 2023, and they have quietly and significantly expanded their mining facilities, with plans to reach 600 terawatts of capacity by 2025.

Arkham noted: "Unlike most governments, Bhutan's Bitcoin does not come from law enforcement asset seizures, but from Bitcoin mining operations, which have increased dramatically since the beginning of 2023."

Read more: Louisiana in the United States accepts Bitcoin payments, and Trump's use of BTC to buy burgers in New York has caused heated discussions

According to the International Monetary Fund (IMF), Bhutan's gross domestic product (GDP) is estimated to be $3.11 billion, ranking alongside countries such as Andorra, East Timor and Belize. This means that Bhutan's GDP accounts for slightly less than 1/3 of Bitcoin.

Other holdings in the country include The Sandbox (SAND), Polygon (MATIC), Binance Coin (BNB), BIM (BIM) and iNFTspace (INS).