Bitcoin's blockchain offers transparency in every transaction, allowing government-held Bitcoin to be traced and analyzed.The US and China have different policies and holdings of Bitcoin, which affect price movements and shape global financial strategy.The US holds approximately 213,000 BTC, obtained from criminal seizures, making it the largest verified holder among national governments.China's holdings are uncertain but were involved in the confiscation of 194,775 BTC from the PlusToken Ponzi scam.