Arkham alleged that governments are some of the biggest players in the crypto space. It came to this conclusion after reviewing the evidence of several nations owning massive amounts of digital assets.
The analytic platform revealed that the United States, United Kingdom and Germany hold considerable amount of cryptocurrencies. It added that the U.S. lead in number.
Arkham Launches Crypto Holdings Board
Last week, Arkham launched a board that pools together data on the biggest crypto holding governments; the U.S., UK, and Germany recorded the top positions.
Thus, the new persuader by Arkham permits people to obtain data as to the current balance and the recent transactions of crypto assets in governments’ possessions.
According to the firm, the Bitcoin holdings by the United States are rightfully the largest among other governments. It said the nation’s holds around 212,847 BTC, which roughly corresponds to about $15 billion based on the latest pricing.
The U.S. government’s portfolio also includes Ethereum (ETH) valued at around $200 million, and other administered stablecoins like USDC and Tether.
UK comes up as number two with 61, 245 BTC, approximately $4.5 billion, where the government of Germany is 49,858 BTC or something around $3.5 billion.
El Salvador’s Limited Bitcoin Holdings
To the shock of many observers, El Salvador has a considerably small amount of Bitcoin in its custody. Many expected more as the country’s President is BTC proponent. Nonetheless, it holds $405m worth of the asset.
Arkham’s release dashboard revealing the exact governments with the highest bitcoin reserves signifies an important transparency step as far as the sort of cryptocurrency assets that state bodies possess, and the huge holdings of these entities can be visibly seen.
Moreover, it highlights the gradual enacument of U.S. government with the data below 6 months indicate an addition of at least 5,000 BTC to their possessions.
On the other hand, the massive Bitcoin holdings of the U.S. government as a result of confiscations are mainly from famous things like the dark web marketplace, “Silk Road”, which, along with cyber attacks like “Bitfinex”, belong to blockchain platforms.
