Key takeaways
Exchanges lead the list, with Binance and Robinhood holding the largest BTC wallets.
Strategy leads corporate holdings with nearly 600,000 BTC.
The US now holds 207,189 BTC, the largest sovereign reserve.
Mid-sized wallets are growing, signaling broader BTC adoption.
Who owns the most Bitcoin?
As of July 2025, Bitcoin remains in a strong position. Daily inflows into spot ETFs continue to rise, supported by a notable decline in reserves held by exchanges, suggesting increasing investor confidence and long-term accumulation.
But what really caught attention this month was a sudden move of 20,000 BTC, valued at over $2.1 billion, from two wallets untouched since 2011. These dormant Bitcoin wallets didn't send their funds to exchanges, but rather to new unidentified addresses.
With dormant coins waking up and ETF-driven demand heating up, the key question is once again in focus: Who holds the most Bitcoin (BTC) in 2025? From exchanges and ETFs to corporations and crypto billionaires, the latest 2025 Bitcoin rich list reveals a shifting, yet still highly concentrated, distribution of BTC power.
Did you know? On July 7 alone, US-based Bitcoin ETFs attracted $217 million in net inflows, marking the third consecutive day of strong institutional buying.
The exchange giants: Top Bitcoin holders in 2025
At the top of the list of the richest Bitcoin addresses are not individuals, but the enormous cold wallets managed by crypto exchanges. These custody reserves are used to manage platform liquidity and protect customer funds, and dominate the upper rankings of any Bitcoin wallet ranking tool.
Leading the list is Binance's main cold wallet, which currently holds approximately 248,600 BTC, about 1.25% of the circulating Bitcoin supply, valued at over $26 billion.
According to BTC wallet data from Glassnode and trackers like BitInfoCharts and CoinCodex, it is the largest BTC wallet. The infrequent but significant transactions from the wallet point to long-term reserve management, not trading.
Next is the cold wallet of Robinhood, which holds about 140,600 BTC (~$15 billion). This address sees only occasional withdrawals, likely reflecting user flows rather than internal trades.
It is followed by the cold wallet of Bitfinex, which stores about 130,010 BTC, although previous counts placed it closer to 156,000 BTC. Aside from minor fluctuations, Bitfinex remains one of the leading Bitcoin holders in 2025.
Other huge wallets held by exchanges include:
Binance cold wallet #2: 115,000 BTC
Recovery wallet from the Bitfinex hack (now held by the government): 94,600 BTC
These custody wallets represent several of the largest BTC wallets in 2025, anchoring the infrastructure that supports billions in daily trading volume.
Did you know? Cold wallets held by exchanges use offline hardware devices to sign transactions without ever exposing private keys to the internet. This 'isolated' setup makes them virtually hack-proof, even if online systems are compromised.
Institutional holdings in BTC: What you need to know
Strategy (formerly MicroStrategy)
No corporate entity is more synonymous with Bitcoin accumulation than MicroStrategy, now simply renamed as Strategy.
By mid-2025, the company has accumulated about 597,325 BTC, spending over $42.4 billion at an average cost of $70,982 per coin. This makes Strategy the largest public holder of Bitcoin in the world by a wide margin. Nearly 92.5% of its balance sheet is now in BTC, a bold bet that continues to define corporate treasury strategy in crypto.
Other public Bitcoin holdings in 2025
Besides Strategy, as of 2025, about 130 publicly traded companies have integrated Bitcoin into their balance sheets, holding a combined total of around 693,000 BTC, about 3.3% of all circulating Bitcoin.
Well-known participants include:
Tesla, with an estimated 11,509 BTC, has quietly held under the now-legendary Bitcoin wallet of Elon Musk.
Block (8,584 BTC), GameStop (4,710 BTC), Semler Scientific (4,449 BTC), and XXI by Twenty One Capital (37,230 BTC), each holding BTC as part of broader asset diversification strategies.
Metaplanet, an unexpected competitor from outside the tech sector, 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 gone beyond direct purchases. ETFs and trusts now hold vast reserves of Bitcoin on behalf of millions of investors:
The Grayscale Bitcoin Trust (GBTC) holds approximately 292,000 BTC, maintaining its position among the most important custodians in the market.
BlackRock's iShares Bitcoin Trust (IBIT), launched in 2024, quickly captured market share and now manages around 274,000 BTC.
These holdings in Bitcoin ETFs introduced a more regulated and familiar format for traditional investors, and did so on a large scale.
Which countries hold the most Bitcoin?
By mid-2025, an estimated 529,000 BTC, about 2.5% of the total supply, is stored in sovereign vaults, reshaping the geopolitical dynamics of digital currency.
The United States garnered attention in March 2025 when President Donald Trump signed an executive order establishing a Strategic Bitcoin Reserve. Entirely derived from criminal seizures, this reserve of 207,189 BTC, valued at over $17 billion, is not for sale.
It is a long-term asset, stored indefinitely as a kind of 'digital Fort Knox.' This measure has solidified the US as one of the key players on the Bitcoin rich list in 2025, institutionalizing BTC's role in national strategy.
Despite its domestic ban on crypto trading, China holds an estimated 194,000 BTC, mainly from its 2019 crackdown on the PlusToken scam. The coins remain dormant but present, proof that even in restrictive regimes, dormant Bitcoin wallets can quietly shape the market.
Other sovereign holders include (as of July 8, 2025):
United Kingdom: 61,245 BTC
Ukraine: 46,351 BTC, much of it donated during the conflict
Bhutan: 11,924 BTC, generated through state-run hydropower mining
El Salvador: 6,229 BTC, resulting from its legal tender strategy launched in 2021
By the way, sovereign Bitcoin reserves show that the digital asset is becoming strategic, shaping central bank policies and signaling institutional legitimacy worldwide.
Did you know? The country of Georgia has one of the smallest official sovereign Bitcoin funds, about 66 BTC, worth approximately $8 million at current prices.
Richest Bitcoin addresses: Who are the top crypto billionaires?
While corporations and custodians dominate the largest addresses, individual holders still command impressive BTC wealth. Some are public figures. Others remain shadows on the blockchain.
At the top is Satoshi Nakamoto, the elusive 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 reserve, nearly 5% of all Bitcoin, looms like a sleeping giant. If it ever moves, the markets would explode with speculation.
Next are the Winklevoss twins, estimated to hold around 70,000 BTC. As founders of Gemini and vocal advocates of crypto, they remain among the most visible crypto billionaires.
Tim Draper, a venture capitalist and early Bitcoin supporter, still holds about 30,000 BTC, acquired in a 2014 US Marshals auction. He has always predicted a value of $250,000, and still believes it.
Michael Saylor, through his company and personally, is a dual holder. Besides the enormous reserve of Strategy, Saylor owns 17,732 BTC (as of August 2024), valued at nearly $2 billion today.
A mystery remains: the address 1FeexV6bAHb8ybZjqQMjJrcCrHGW9sb6uF, which holds 79,957.26 BTC. It is believed to be linked to early exchange explorations and is currently frozen, but ranks among the richest Bitcoin addresses ever recorded.
BTC Whale Tracker: On-chain wealth distribution
Bitcoin ownership remains highly concentrated, but the story is slowly changing.
The top 10 BTC wallets (excluding Nakamoto's reserves) control about 1.1 million BTC, approximately 5.5% of the total supply. Broadening the view, the top 100 addresses collectively hold about 2.9 million BTC, close to 14.7% of all coins in circulation. These are largely exchange reserves, institutional holdings, or high-income Bitcoin whales from 2025.
However, the real change is happening just below: wallets holding between 100 and 1,000 BTC have grown significantly. In the last year, these mid-sized addresses expanded from 3.9 million BTC to 4.76 million BTC. This represents a significant increase in crypto wealth distribution, signaling that small institutions, funds, and even wealthy individuals are accumulating sats more aggressively.
This trend aligns with broader adoption, clearer regulation, and better visibility of the BTC whale tracker. While large players still dominate liquidity, the economic base of Bitcoin is expanding, which could stabilize price behavior over time.
Who holds the keys to Bitcoin? From giant cold wallets to a growing middle class.
At the top are the enormous cold wallets of exchanges — Binance, Robinhood, and Bitfinex — followed by corporations like Strategy, institutional vehicles like Grayscale, sovereign treasuries, and legendary personal wallets like Satoshi Nakamoto's BTC address.
Still, it's the ongoing shift that matters. More mid-sized Bitcoin holders are coming into the scene, while ETF inflows and sovereign reserves legitimize Bitcoin's role in traditional finance.
