Top Bitcoin Holders of 2023: Who Owns the Most BTC This Year?

Top Bitcoin Holders of 2023: Who Owns the Most BTC This Year?
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Who Holds the Most bitcoin? Insights into 2025’s BTC Ownership Landscape

Key Insights on bitcoin Ownership

  • Leading the pack are exchanges, with Binance and Robinhood possessing the largest bitcoin wallets.
  • The corporate sector is spearheaded by Strategy, which has accumulated nearly 600,000 BTC.
  • The United States boasts the largest sovereign bitcoin reserve, totaling 207,189 BTC.
  • An increase in mid-tier wallets indicates a growing acceptance of bitcoin among the general public.

Understanding bitcoin Ownership in 2025

As of July 2025, bitcoin continues to show resilience. Daily investments into spot ETFs are on the rise, coinciding with a decline in reserves held by exchanges, which reflects increasing investor confidence and a trend toward long-term accumulation. A noteworthy event this month involved the transfer of 20,000 BTC, valued at over $2.1 billion, from two wallets that had remained inactive since 2011. Rather than moving these funds to exchanges, they were sent to new, unidentified addresses.

With the reactivation of dormant wallets and heightened demand driven by ETFs, the question arises: Who are the major bitcoin holders in 2025? The latest rankings reveal a dynamic yet concentrated distribution of bitcoin ownership among exchanges, ETFs, corporations, and crypto billionaires.

The Dominance of Exchange Wallets

The largest bitcoin addresses are primarily controlled by major cryptocurrency exchanges, which utilize cold wallets to manage liquidity and protect customer assets. Binance leads with its main cold wallet, holding approximately 248,600 BTC, equivalent to about 1.25% of the total bitcoin supply, valued at over $26 billion. According to data from Glassnode and other tracking platforms, this wallet is the largest in existence, with transactions indicating a focus on long-term reserve management rather than active trading.

Following Binance is Robinhood’s cold wallet, which contains around 140,600 BTC (approximately $15 billion). This wallet experiences sporadic withdrawals, likely reflecting user transactions rather than internal trading activities. Bitfinex also ranks high, with its cold wallet holding about 130,010 BTC, although earlier estimates suggested it was closer to 156,000 BTC. Other significant exchange wallets include:

  • Binance’s secondary cold wallet: 115,000 BTC
  • Bitfinex’s hack recovery wallet (now government-controlled): 94,600 BTC

These custodial wallets represent a substantial portion of bitcoin holdings in 2025, underpinning the infrastructure that facilitates billions in daily trading.

Corporate bitcoin Holdings: Key Players

Strategy (formerly MicroStrategy)

No company is more closely associated with bitcoin accumulation than Strategy, previously known as MicroStrategy. By mid-2025, the firm had acquired around 597,325 BTC, investing over $42.4 billion at an average price of $70,982 per coin. This makes Strategy the largest public bitcoin holder globally, with nearly 92.5% of its balance sheet now in bitcoin, a bold strategy that continues to shape corporate treasury practices in the cryptocurrency space.

Other Public Holdings

In addition to Strategy, approximately 130 publicly traded companies have incorporated bitcoin into their financial strategies, collectively holding around 693,000 BTC, which is about 3.3% of the total bitcoin supply. Notable participants include:

  • Tesla, with an estimated 11,509 BTC, held under Elon Musk’s well-known wallet.
  • Block (8,584 BTC), GameStop (4,710 BTC), Semler Scientific (4,449 BTC), and XXI by Twenty One Capital (37,230 BTC), each holding bitcoin as part of broader asset diversification strategies.
  • Metaplanet, an unexpected player from outside the tech sector, currently holds 15,555 BTC and aims to accumulate 210,000 BTC by 2027.

ETFs and Institutional Trusts

Institutions are increasingly utilizing ETFs and trusts to hold significant bitcoin reserves on behalf of investors. These vehicles provide a regulated and familiar format for traditional investors, facilitating large-scale participation in the bitcoin market.

Sovereign bitcoin Holdings by Country

As of mid-2025, an estimated 529,000 BTC, or about 2.5% of the total supply, is held in sovereign reserves, altering the geopolitical landscape of digital currencies. The United States made headlines in March 2025 when President Donald Trump established a Strategic bitcoin Reserve, comprising 207,189 BTC sourced entirely from criminal seizures. This reserve, valued at over $17 billion, is intended as a long-term asset, akin to a “digital Fort Knox,” solidifying the U.S.’s position as a leading player in the bitcoin landscape.

Despite its ban on cryptocurrency trading, China holds approximately 194,000 BTC, primarily from its crackdown on the PlusToken scam in 2019. Other notable sovereign holders include:

  • United Kingdom: 61,245 BTC
  • Ukraine: 46,351 BTC, largely donated during conflict
  • Bhutan: 11,924 BTC, generated through state-sponsored hydro-powered mining
  • El Salvador: 6,229 BTC, resulting from its legal tender initiative launched in 2021

These sovereign reserves indicate that bitcoin is becoming a strategic asset, influencing central bank policies and enhancing institutional legitimacy globally.

The Wealth of Individual bitcoin Holders

While corporate and custodial entities dominate the largest bitcoin addresses, individual holders still possess significant wealth in BTC. Some are well-known figures, while others remain anonymous.

  • At the forefront is Satoshi Nakamoto, the enigmatic creator of bitcoin, whose wallet is estimated to contain between 968,000 and 1.1 million BTC, untouched since 2010. This stash represents nearly 5% of the total bitcoin supply and could cause market upheaval if ever moved.
  • The Winklevoss twins are estimated to hold around 70,000 BTC. As founders of Gemini and prominent advocates for cryptocurrency, they are among the most visible crypto billionaires.
  • Tim Draper, a venture capitalist and early bitcoin investor, retains approximately 30,000 BTC, acquired during a 2014 U.S. Marshals auction. He continues to predict a price of $250,000 for bitcoin.
  • Michael Saylor, both personally and through his company, holds a substantial amount of bitcoin, with 17,732 BTC as of August 2024, valued at nearly $2 billion today.
  • A mysterious address, 1FeexV6bAHb8ybZjqQMjJrcCrHGW9sb6uF, holds 79,957.26 BTC, believed to be linked to early exchange exploits and currently frozen, ranking among the wealthiest bitcoin addresses ever recorded.

Analyzing bitcoin Wealth Distribution

bitcoin ownership remains heavily concentrated, yet the landscape is gradually evolving. The top ten bitcoin wallets (excluding Nakamoto’s holdings) control around 1.1 million BTC, roughly 5.5% of the total supply. The top 100 addresses collectively hold about 2.9 million BTC, close to 14.7% of all circulating coins. These wallets are primarily comprised of exchange reserves, institutional holdings, or high-net-worth individuals.

However, a significant trend is emerging among mid-tier wallets, which have seen substantial growth. Over the past year, wallets holding between 100 and 1,000 BTC have increased from 3.9 million BTC to 4.76 million BTC. This shift indicates that smaller institutions, funds, and affluent individuals are increasingly investing in bitcoin, reflecting broader adoption and clearer regulatory frameworks.

Conclusion: The Future of bitcoin Ownership

At the top of the bitcoin ownership hierarchy are the large exchange cold wallets, including those of Binance, Robinhood, and Bitfinex, followed by corporations like Strategy, institutional vehicles like Grayscale, sovereign treasuries, and the legendary wallet of Satoshi Nakamoto.

The ongoing changes in bitcoin ownership are noteworthy. More mid-tier holders are entering the market, while ETF inflows and sovereign reserves are legitimizing bitcoin‘s role in traditional finance. Yet, several questions linger:

  • Will dormant wallets become active again?
  • Will companies like Strategy continue their aggressive accumulation or adapt to changing market conditions?
  • Will the largest bitcoin wallets of 2025 expand further or undergo redistribution?

The answers to these questions will unfold in the next chapter of the cryptocurrency narrative.

Disclaimer: This article is provided for informational purposes only and does not constitute financial advice. Readers are encouraged to conduct their own research before making any investment decisions.

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