Sovereign Bitcoin.

U.S. Strategic Bitcoin Reserve, formalized March 2026 via executive framework. Holdings comprise BTC previously seized under federal law-enforcement actions, transferred to Treasury and explicitly designated as a strategic reserve asset.

Range commonly cited as 325,000–328,000 BTC depending on attribution of recent transfers. Conservative low-end figure used here.

Holdings comprise BTC seized in PlusToken and related fraud cases. Held by Chinese state agencies. No public strategic-reserve framework and no recent on-chain confirmation; figure is a widely cited estimate.

Highest-uncertainty data point in the Monitor. Treat as estimate, not verified.

Holdings comprise BTC seized by UK law-enforcement (notably ~61,000 BTC seized in 2018 from a single Chinese money-laundering case). Held by HMRC / Crown Prosecution Service pending forfeiture proceedings. No strategic-reserve framework.

Status could shift to 'strategic_reserve' or 'divested' depending on outcome of forfeiture proceedings.

Holdings comprise BTC under control of state agencies; mix of donations to the war effort and seizures. No formal strategic-reserve framework.

Holdings figure widely cited but subject to wartime classification uncertainty.

Bitcoin Law (2021); explicit national strategic-reserve framework. Accumulation continues under public 'one BTC per day' policy with periodic top-ups.

First country to formally adopt Bitcoin as legal tender and as a sovereign reserve asset.

Holdings derived from state-operated Bitcoin mining via hydroelectric capacity. Held by Druk Holding & Investments. Materially reduced from ~13,000 BTC peak in 2024–2025 to current level by April 2026.

Bhutan's path is energy-monetization, not strategic-reserve. Often miscategorized; tracked here as a counter-example for any state considering reserves.

Holdings comprise BTC seized in narcotics-trafficking and money-laundering criminal proceedings, held by Finnish Customs (Tulli) and the National Bureau of Investigation (KRP). No public strategic-reserve framework; no treasury designation. Sammallahti and Paasi (Kokoomus MPs) publicly proposed a strategic-reserve framework in May 2026.

Reserve-framework proposal pending. Whitepaper (publishing 23 May 2026) proposes a 5-year ~0.5%-of-state-assets accumulation path (~6,000 BTC).

Government of Pakistan publicly announced creation of a Strategic Bitcoin Reserve in 2026. Holdings have not yet been publicly verified.

Awaiting first verified holdings disclosure.

RESBit (Reserva Estratégica de Bitcoin) bill reintroduced in Brazilian Congress in February 2026. Proposes federal accumulation of up to 1,000,000 BTC over 5 years (≈5% of total supply).

Most concrete sovereign-Bitcoin bill text in existence as of May 2026. The Sovereign Monitor tracks RESBit's legislative progress as a leading indicator.

Czech National Bank (ČNB) Governor Aleš Michl publicly discussed Bitcoin as a potential reserve diversifier in 2025 remarks. No bill filed; no treasury position taken.

Closest live European peer to the Finnish reserve proposal.

German Federal Criminal Police Office (BKA) sold approximately 50,000 BTC seized from Movie2K case in mid-2024. No subsequent reserve framework adopted.

Historical example of a state divesting seized BTC prior to the 2025–2026 sovereign-reserve wave.