1 August 2026
Meet The Governments Who Are Hodling Bitcoins
Bitcoin is considered a revolutionary digital currency which has completely changed the game by introducing a decentralized peer to peer network exhibiting cross border payments in milliseconds.
Bitcoin has overshadowed the conventional monetary system in every department. Bitcoin provides faster transactions, lower processing costs, and digital trading platforms operating 24/7. Many governments out there are working towards central bank digital currencies (CBDCs) but some governments own cryptocurrency.
Many governments worldwide are interested in trading with bitcoins and few of them own cryptocurrency as well.
The government of Sweden has been in the news for a while for trading in bitcoin. For the past three years, the government has been making profits through auctioning BTC.
As per the reports, the Bulgarian government is the second-highest owner of bitcoins worldwide with 200,000 BTC. It was in the news that the government officials have been involved in illicitly owning BTCs worth 0.3 Billion that has led to legal proceedings, however, there are no comments from the Bulgarian authorities.
In a team of bitcoin owners, the United States has also entered where they auctioned their BTC ownership away after being under scrutiny for illicit BTCs holding. US financial institutions carried many auctions and the biggest one was 44.000 BTC by Silk Road Operator, Ross Ulbricht.
The US government has given Bitcoin a legal status, similar to Japan, Canada, and the UK. However, several countries are struggling to accept the decentralized concept of cryptocurrency and one such example is the Indian government.
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