According to BlockBeats, on September 19, Arkham released the latest government Bitcoin holdings rankings on X. The United States topped the list with $12.16 billion in holdings. The top four countries are:
United States: $12.16 billion;
United Kingdom: $3.67 billion;
Bhutan: $782.46 million;
El Salvador: $351.75 million;
Notably, Germany dropped from $3.56 billion to zero, becoming a special nomination.