As of July 2025, Bitcoin remains steadfast. The capital flow into spot ETF funds continues to increase sharply every day, supported by a significant decrease in exchange-held reserves, indicating rising investor confidence and long-term accumulation.

But what really caught attention this month was the sudden transfer of 20.000 BTC, worth over $2.1 billion, from two wallets that hadn't been used since 2011. These inactive Bitcoin wallets did not send money to exchanges but to new, unidentified addresses.

With sleeping cryptocurrencies awakening and demand from ETFs rising, the key question again comes to the forefront: Who owns the most Bitcoin (BTC) in 2025? From exchanges and ETFs to corporations and cryptocurrency billionaires, the list of the richest Bitcoin holders in 2025 shows that the distribution of BTC power is changing but remains highly concentrated.

The Giants of Trading: The Biggest Bitcoin Holders of 2025

Topping the list of the richest Bitcoin addresses is not an individual, but rather large cold wallets operated by cryptocurrency exchanges. These custodial reserves are used to manage platform liquidity and protect customer funds, and they dominate any ranking of Bitcoin wallets.

Binance's main cold wallet currently holds approximately 248.600 BTC, equivalent to 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, these are the largest BTC wallets. The sporadic but significant transactions of the wallet indicate long-term reserve management, rather than trading.

Next is the Robinhood cold wallet, holding approximately 140.600 BTC (around $15 billion). This address only occasionally has withdrawal transactions, which may reflect cash flow from end users rather than internal trading.

Next is the Bitfinex cold wallet, which holds about 130.010 BTC, although previous statistics indicated this figure was closer to 156.000 BTC. Ignoring minor fluctuations, Bitfinex remains one of the top Bitcoin holders in 2025.

Other large wallets held by exchanges include:

  • Binance cold wallet #2: 115.000 BTC

  • Bitfinex hack recovery wallet (currently held by the government): 94.600 BTC

These custodial wallets account for some of the largest BTC wallets in 2025, serving as the anchor platform supporting daily trading volumes reaching billions of dollars.

BTC Held by Organizations: What You Need to Know

Strategy

As of mid-2025, the company has accumulated approximately 597.325 BTC, spending over $42.4 billion at an average cost of $70.982 per coin. This positions Strategy as the largest publicly held Bitcoin entity in the world by a wide margin. Nearly 92.5% of the company's balance sheet is now BTC, a bold bet that continues to shape the business's fund management strategy in the cryptocurrency space.

Other Public Bitcoin Holdings in 2025

In addition to Strategy, by 2025, approximately 130 public companies have integrated Bitcoin into their balance sheets, holding a total of around 693.000 BTC, accounting for about 3.3% of the total circulating Bitcoin.

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 XXI of Twenty One Capital (37.230 BTC), each company holds BTC as part of a broader asset diversification strategy.

  • Metaplanet, a surprising competitor from outside the tech sector, currently holds 15.555 BTC as of July 9, 2025, with an ambitious plan to accumulate 210.000 BTC by 2027.

ETFs and Institutional Trust Funds

Organizations have gone beyond direct buying. ETF and trust funds now hold massive 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 approximately 274.000 BTC.

These Bitcoin ETF holdings have introduced a more familiar and tightly regulated form for traditional investors and have been implemented on a large scale.

Which Countries Hold the Most Bitcoin?

As of mid-2025, it is estimated that 529.000 BTC, accounting for about 2.5% of the total supply, is held in government treasuries, reshaping the geopolitical dynamics of digital money.

The United States became the center of attention in March 2025 when President Donald Trump signed an executive order establishing the Strategic Bitcoin Reserve Fund. This reserve of 207.189 BTC, worth over $17 billion, is entirely sourced from illegal seizures, not for sale.

This is a long-term asset, stored indefinitely as a kind of 'digital Fort Knox.' This move has solidified the position of the United States as the wealthiest nation in Bitcoin by 2025 by institutionalizing the role of BTC in national strategy.

Despite the domestic cryptocurrency trading ban, China is estimated to hold 194.000 BTC, primarily from the crackdown on the PlusToken scam in 2019. This Bitcoin remains dormant yet present, proving that even in restrictive regimes, dormant Bitcoin wallets can quietly shape the market.

Other national holders include (as of July 8, 2025):

  • United Kingdom: 61.245 BTC

  • Ukraine: 46.351 BTC, mostly donated during the conflict

  • Bhutan: 11.924 BTC, generated through state hydroelectric mining

  • El Salvador: 6.229 BTC, the result of a legal tender strategy implemented in 2021

Moreover, government Bitcoin reserves show that this digital asset is becoming a strategic asset, shaping central bank policy and signaling institutional legitimacy around the world.

The Richest Bitcoin Addresses: Who Are the Top Cryptocurrency Billionaires?

While corporations and custodians dominate the largest wallet addresses, individual BTC holders still hold vast assets. Some are public figures. Others remain mere shadows on the blockchain.

  • At the top of 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 remained untouched since 2010. This treasure, accounting for nearly 5% of the total Bitcoin supply, looms like a sleeping giant. If it stirs, the market will explode with speculation.

  • Next is the Winklevoss twins, estimated to hold around 70.000 BTC. As founders of Gemini and strong advocates for cryptocurrency, they remain among the most prominent cryptocurrency billionaires.

  • Tim Draper, a venture capitalist and Bitcoin supporter from the early days, still holds around 30.000 BTC, purchased at a US Marshals auction in 2014. He has long predicted a price of $250.000 and maintains this view.

  • Michael Saylor, through his company and personally, is a dual holder. In addition to the massive holdings of Strategy, Saylor himself owns 17.732 BTC (as of August 2024), worth nearly $2 billion today.

  • Still a mystery: the address 1FeexV6bAHb8ybZjqQMjJrcCrHGW9sb6uF, holding 79.957,26 BTC. This address is believed to be connected to early exchange hack attacks and is currently frozen, but it remains ranked as one of the richest Bitcoin addresses ever recorded.

BTC Whale Tracker: Asset Distribution on the Chain

Bitcoin ownership remains highly concentrated, but the narrative is gradually changing.

The top 10 BTC wallets (excluding the amount held by Nakamoto) control approximately 1.1 million BTC, accounting for about 5.5% of the total supply. Broadly, the top 100 addresses hold a total of around 2.9 million BTC, nearly 14.7% of the total circulating coins. Most of these are reserves of exchanges, institutional holdings, or high-net-worth Bitcoin 'whales' in 2025.

However, the real change is happening just beneath the surface: The number of wallets holding between 100 and 1,000 BTC has grown significantly. Over the past year, these mid-range addresses have increased from 3.9 million BTC to 4.76 million BTC. This is a significant step in the distribution of cryptocurrency assets, signaling that smaller institutions, funds, and even wealthy individuals are accumulating sats more aggressively.

This trend aligns with broader adoption, clearer regulation, and improved visibility of BTC whale tracking tools. While the giants still dominate liquidity, the economic fundamentals of Bitcoin are expanding, which could stabilize price behavior over time.

Who Holds the Keys to Bitcoin? From Major Cold Wallets to an Emerging Middle Class

Leading are large trading cold wallets — Binance, Robinhood, and Bitfinex — followed by corporations like Strategy, institutional companies like Grayscale, government bonds, and legendary individual wallets like Satoshi Nakamoto's BTC address.

However, the real change happening is what matters. More and more mid-range Bitcoin holders are entering the market, while the flow of ETF capital and national reserves legitimize Bitcoin's role in mainstream finance.

However, many questions remain:

  • Will the sleeping wallets awaken?

  • Will companies like Strategy continue to buy or change as market conditions evolve?

  • 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 chapter of cryptocurrency.