The Global Bitcoin Reserve Race: Who Will Follow the US?

After US President Donald Trump signed an executive order establishing a Strategic Bitcoin Reserve, many are now asking: Which country will be next? While the US move marks a significant milestone in Bitcoin’s mainstream adoption, other nations already hold substantial amounts of BTC—some even more than the US. This raises the question: Will other governments take the leap and create their own Bitcoin reserves?

Countries with the Largest Bitcoin Holdings

Several countries currently own large amounts of Bitcoin, some due to asset seizures, while others have accumulated BTC for strategic financial purposes. China leads the pack with an estimated 194,000 BTC, followed by the US with around 112,189 BTC. The UK and Ukraine also hold notable amounts, with 61,000 BTC and 46,351 BTC, respectively.

China: A Potential Bitcoin Reserve Powerhouse?

Despite holding the largest known Bitcoin reserves, China’s stance on private crypto trading remains strict. The country has banned cryptocurrency exchanges and initial coin offerings (ICOs) but continues to explore blockchain applications and digital currencies. The Chinese government’s primary focus is on developing its own Central Bank Digital Currency (CBDC), the Digital Yuan, which suggests that an official Bitcoin reserve may not be on the horizon soon. However, given China’s history of strategic financial decisions, the idea cannot be entirely ruled out.

The UK’s Growing Crypto Ambitions

The United Kingdom, with 61,000 BTC in holdings, has been making strides in modernizing its financial services. As a global financial hub, the UK could consider integrating Bitcoin into its national reserves if demand continues to rise. With institutional interest in digital assets growing, a Bitcoin reserve could align with the UK’s broader economic strategy. However, regulatory clarity would be a crucial factor in any such decision.

Ukraine’s Unique Position

Ukraine also holds a significant amount of Bitcoin—over $4 billion worth—primarily acquired through donations and government confiscations. While the country has embraced cryptocurrency as part of its financial ecosystem, the ongoing geopolitical situation may delay any formal decision to establish a Bitcoin reserve. Nonetheless, Ukraine’s pro-crypto stance suggests that Bitcoin could play an important role in its future economic plans.

Why Bitcoin Reserves Matter for Nations

Establishing a Bitcoin reserve could legitimize cryptocurrencies as state-backed assets, encouraging more institutional and retail investors to participate in the market. For countries dealing with inflation, currency devaluation, or economic uncertainty, Bitcoin could serve as a hedge against financial instability. Moreover, as more nations formalize Bitcoin reserves, global regulatory frameworks may shift toward greater acceptance of digital assets in traditional financial systems.

The Road Ahead

While the US has taken the lead, it remains to be seen which country will follow next. If Bitcoin continues to gain recognition as a strategic financial asset, other nations may soon feel compelled to establish their own reserves. Whether China, the UK, or another economic powerhouse takes the next step, one thing is clear—Bitcoin’s role in the global financial system is only growing stronger.