Bitwise Says Nations Holding Bitcoin Will Double in 2025

The number of nations officially holding Bitcoin could significantly increase in 2025, doubling from the current nine, according to asset management firm Bitwise.

This forecast is part of Insights4VC's latest crypto report, consolidating insights from over 300 industry leaders and institutions. Presently, the United States holds the most Bitcoin, with approximately 198,000 BTC valued at nearly $20 billion. China follows with 190,000 BTC, worth around $19 billion. Other smaller holders of Bitcoin include El Salvador, the United Kingdom, and Ukraine.

BItwise’s prediction aligns with the growing global embrace of Bitcoin, as nations increasingly view the cryptocurrency as a hedge against inflation, a store of value, and a means of enhancing financial sovereignty, Alan Orwick, co-founder and CEO of Quai Network, explained to The Defiant.

“As the adoption of Bitcoin by sovereign nations accelerates, Bitcoin emerges as the new digital Manhattan real estate, a piece of cyberspace that countries are eager to claim as their own,” Orwick said. “Bitwise's prediction that the number of countries holding Bitcoin will double this year is akin to witnessing the rush for black gold in the 20th century, but this time, it's the digital form.”

‘Digital Divide’

However, Orwick cautioned that the rush to accumulate Bitcoin could create a new "digital divide." He argued that early adopters would gain most of the benefits, while latecomers may struggle with volatility and scarcity.

The adoption of Bitcoin by nations, Orwick noted, could ironically lead to centralized control over an asset originally designed to be decentralized, challenging the very principles behind its creation.

BTC, ETH and AI

The report highlighted several other Bitwise predictions, including that Bitcoin could reach $200,000 in 2025 while Ethereum could surpass $7,000. This projection comes as Bitcoin trades around $96,000, a slight decline from its all-time high of $108,000 observed in December 2024. Ethereum is currently trading at $3,230, according to CoinGecko.

Another prediction from the asset management firm includes an increase in memecoins driven by artificial intelligence (AI) agents. “These AI-driven tokens will capture market attention, generating millions in fees and creating a speculative frenzy even larger than in 2024,” the report reads.