Who Owns the Most Bitcoin in 2025? Here's the List
Exchanges top the list, with Binance and Robinhood holding the largest BTC wallets.
Who owns the most Bitcoins?
As of July 2025, Bitcoin remains strong. Spot ETF inflows continue to surge daily, supported by a significant decline in exchange-traded holdings, indicating growing investor confidence and long-term accumulation.
But what really made headlines this month was the sudden transfer of 20,000 BTC, worth more than $2.1 billion, from two wallets that had not been used since 2011. These inactive Bitcoin wallets did not send the funds to exchanges but to new, unknown addresses.
With dormant coins waking up and ETF-driven demand growing, the important question once again comes into focus: Who owns the most Bitcoin ?
From exchanges and ETFs to corporations and crypto billionaires, the latest Bitcoin rich list 2025 shows that the distribution of BTC power is changing but still very concentrated.
On July 7 alone, Bitcoin ETFs in the United States attracted $217 million in net capital, marking the third consecutive strong day of institutional buying.
The Biggest Bitcoin Holders in 2025
Topping the list of richest Bitcoin addresses are not individuals, but giant cold wallets operated by cryptocurrency exchanges. These custodial reserves are used to manage platform liquidity and protect customer funds, and they dominate any Bitcoin wallet ranking tool.
Binance's main cold wallet currently holds around 248,600 BTC, or about 1.25% of the circulating Bitcoin supply, worth over $26 billion.
According to BTC wallet data from Glassnode and tracking tools like BitInfoCharts and CoinCodex, this is the largest BTC wallet. The wallet's infrequent but significant transactions suggest long-term reserve management, not trading.
Next is the Robinhood cold wallet, which holds around 140,600 BTC (around $15 billion). This address only sees occasional withdrawals, which may reflect end-user flows rather than internal transactions.
Next is the Bitfinex cold wallet, which holds around 130,010 BTC, although previous statistics put the number closer to 156,000 BTC. Minor fluctuations aside, Bitfinex remains one of the top Bitcoin holders in 2025.
Other major wallets held by exchanges include:
Binance Cold Wallet #2: 115,000 BTC
Bitfinex hack recovery wallet (now held by the government): 94,600 BTC
These custodial wallets account for some of the largest BTC wallets by 2025, anchoring the infrastructure that supports billions of dollars in daily trading volume.
BTC Held by Institutions: What You Need to Know
Strategy (formerly MicroStrategy)
No corporate entity is more synonymous with Bitcoin accumulation than MicroStrategy, now rebranded as Strategy.
As of mid-2025, the company had accumulated approximately 597,325 BTC, spending over $42.4 billion at an average cost of $70,982 per coin. This makes Strategy the world’s largest public Bitcoin holder by a wide margin. Nearly 92.5% of the company’s balance sheet is now BTC, a bold bet that continues to define the firm’s crypto asset management strategy.
Other Public Bitcoin Holding in 2025
In addition to Strategy, as of 2025, there are about 130 public companies that have integrated Bitcoin into their balance sheets, holding a total of about 693,000 BTC, accounting for about 3.3% of all Bitcoin in circulation.
Notable participants include:
Tesla, with an estimated 11,509 BTC, is quietly stored in Elon Musk's legendary Bitcoin wallet.
Block (8,584 BTC), GameStop (4,710 BTC), Semler Scientific (4,449 BTC), and Twenty One Capital's XXI (37,230 BTC) each hold BTC as part of a broader asset diversification strategy.
Metaplanet, an unexpected contender from outside the tech space, currently holds 15,555 BTC as of July 9, 2025, with ambitious plans to accumulate 210,000 BTC by 2027.
ETFs and institutional trusts
Institutions have moved beyond direct purchases. ETFs and trusts now hold huge Bitcoin reserves on behalf of millions of investors:
Grayscale Bitcoin Trust (GBTC) holds approximately 292,000 BTC, maintaining its position as one of the most important custodians in the market.
BlackRock's iShares Bitcoin Trust (IBIT), launched in 2024, has quickly gained market share and currently manages around 274,000 BTC.
These Bitcoin ETF holdings have introduced a more familiar and regulated form of holdings for traditional investors and have done so at scale.
Which countries hold the most Bitcoin?
As of mid-2025, an estimated 529,000 BTC, representing about 2.5% of the total supply, is sitting in government vaults, reshaping the geopolitical dynamics of digital currencies.
The United States made headlines in March 2025 when President Donald Trump signed an executive order establishing the Strategic Bitcoin Reserve. This 207,189 BTC reserve, worth over $17 billion, is entirely sourced from illegal seizures, not for sale.
It is a long-term asset, stored indefinitely as a kind of “digital Fort Knox.” The move solidifies the US’s position as the richest country in Bitcoin by 2025 by institutionalizing the role of BTC in national strategy.
Despite a domestic cryptocurrency trading ban, China is estimated to hold 194,000 BTC, largely from the 2019 crackdown on the PlusToken scam. These Bitcoins remain dormant but visible, demonstrating that even in restrictive regimes, dormant Bitcoin wallets can still quietly shape the market.
Other national holders include (as of July 8, 2025):
UK: 61,245 BTC
Ukraine: 46,351 BTC, most donated during conflict
Bhutan: 11,924 BTC, generated through state-owned hydropower
El Salvador: 6,229 BTC, result of legal tender strategy implemented in 2021
Additionally, government Bitcoin reserves show that the digital asset is becoming a strategic asset, shaping central bank policy and signaling institutional legitimacy around the world.
The nation of Georgia holds one of the smallest official sovereign Bitcoin funds, around 66 BTC, worth around $8 million at current prices.
Richest Bitcoin Addresses: Who Are the Top Crypto Billionaires?
While corporations and custodians dominate the largest wallet addresses, individual BTC holders still hold huge fortunes. Some are public figures. Others remain mere shadows on the blockchain.
Topping the list is Satoshi Nakamoto, the mysterious creator of Bitcoin. His (or her, or their) BTC wallet, estimated to contain between 968,000 and 1.1 million BTC, has not been touched since 2010. This treasure trove, representing nearly 5% of all Bitcoin, looms like a sleeping giant. If it moves, the market will explode with speculation.
Next up are the Winklevoss twins, who are estimated to hold around 70,000 BTC. As founders of Gemini and vocal crypto advocates, they remain among the most prominent top crypto billionaires.
Tim Draper, a venture capitalist and early Bitcoin supporter, still holds around 30,000 BTC, purchased at a US Marshals auction in 2014. He has long predicted a price of $250,000, and remains so.
Michael Saylor, through his company and personally, is a dual holder. In addition to Strategy's massive holdings, Saylor himself owns 17,732 BTC (as of August 2024), worth nearly $2 billion today.
One mystery remains: the address 1FeexV6bAHb8ybZjqQMjJrcCrHGW9sb6uF, which holds 79,957.26 BTC. The address is believed to be linked to the original exchange hacks and is currently frozen, but it still ranks as one of the richest Bitcoin addresses on record.
BTC Whale Tracker: On-Chain Wealth Distribution
Bitcoin ownership remains highly concentrated, but that story is slowly changing.
The top 10 BTC wallets (excluding Nakamoto’s BTC) control about 1.1 million BTC, or about 5.5% of the total supply. In total, the top 100 addresses hold about 2.9 million BTC, or nearly 14.7% of all coins in circulation. The majority of this is held by exchanges, institutional holders, or high-net-worth Bitcoin “whales” by 2025.
But the real change is happening underneath the surface: The number of wallets holding between 100 and 1,000 BTC has grown significantly. Over the past year, these mid-sized addresses have grown from 3.9 million BTC to 4.76 million BTC. This is a huge shift in the distribution of crypto assets, signaling that small institutions, funds, and even wealthy individuals are accumulating sats more aggressively.
This trend is consistent with wider adoption, clearer regulation, and improved visibility of BTC whale trackers. While the big guys still dominate liquidity, Bitcoin’s economic base is expanding, which could stabilize price behavior over time.
Who Holds the Bitcoin Keys? From Cold Wallet Giants to the Growing Middle Class
At the top are large exchange cold wallets — Binance , Robinhood, and Bitfinex — followed by corporations like Strategy, institutional firms like Grayscale, government bonds, and legendary personal wallets like Satoshi Nakamoto’s BTC address.
But it is the ongoing change that is important. More and more average Bitcoin holders are entering the market, while ETF and sovereign reserve inflows legitimize Bitcoin’s role in mainstream finance.
However, many questions remain:
Will the sleeping wallets wake up?
Will firms like Strategy continue to buy or change as market conditions change?
Will the largest BTC wallet in 2025 continue to grow or will it be redistributed?
The answers to these questions will only be revealed in the next cycles of cryptocurrencies.