Who’s Next After the US?

• Several countries own large amounts of Bitcoin, with China leading at 194,000 BTC
• The US has over 110,000 BTC, which is equal to over $10 billion
• China is a possible candidate for a Bitcoin reserve, although it still maintains a strict regulatory stance against private crypto trading

After the US President Donald Trump signed an order to create a strategic Bitcoin reserve, it’s natural to question whether any of the other nations might follow the example.

As shown here, several countries already own Bitcoin, and probably more that aren’t listed. While the US is on the way to build a Bitcoin reserve, they don’t own the largest amount of BTC.

Reports say China has more. Right now, China has 194,000 BTC, while the US has 112,189 BTC. These two countries hold the most, followed by the UK with 61,000 BTC and Ukraine with 46,351.

China: Next Bitcoin Reserve Powerhouse?

Could other countries follow suit in bundling a Bitcoin reserve? It’s hard to say, but most think that China might be the next one. However, despite reportedly holding the largest amount of Bitcoin, China has maintained a strict regulatory stance against private crypto trading. Its government’s focus on developing a centralized digital currency (the Digital Yuan) makes it less likely to adopt a public crypto reserve, though strategic uses of blockchain are being explored.

The UK could also be a good candidate, considering the country is modernizing its financial services. As such, it may consider a crypto reserve as part of its broader economic strategy, especially if there is stable demand and global institutional interest.

Related: Donald Trump Makes It Official: Strategic Bitcoin Reserve, Altcoin Stockpile Is Law

Surprising or not, Ukraine also has a sizable amount of BTC, worth over 4$ billion. Even though the country owns a large supply, taking into account the current events happening within its borders, the potential Bitcoin reserve is in all likelihood a long way from happening.

Why National Bitcoin Reserves Matter

Establishing a strategic reserve could validate cryptocurrencies as legitimate, state-sanctioned assets, which might encourage further investment and innovation — more so if more countries do it besides the US.

For nations facing economic or geopolitical uncertainties, holding digital assets may be their hedge against inflation and currency devaluation. 

Related: Donald Trump’s Shift from Bitcoin Reserve to a ‘Broader’ Crypto Plan Sparks Debate

While not directly related to crypto, a formal reserve can also set a precedent for global regulatory frameworks, influencing how other countries view and integrate digital assets into their national reserves.