Key takeout
The exchange is at the top of the list, with Binance and Robinhood holding the biggest BTC wallets.
The strategy leads corporate holdings at around 600,000 BTC.
The US currently owns 207,189 BTC, the largest sovereign stash.
Mid-tier wallets are growing and are informing the adoption of a wider BTC.
Who owns the most Bitcoin?
As of July 2025, Bitcoin has maintained a solid footing. Daily inflows into spot ETFs continue to surge, backed by a marked decline in exchange-owned reserves, suggesting an increase in investor confidence and long-term accumulation.
But what really changed my mind this month was the sudden move of 20,000 btc, over $2.1 billion from two wallets since 2011. These dormant Bitcoin wallets did not send funds to exchange, but rather sent to a new, unidentified address.
As dormant coins wake up and demand for ETF-driven ones heats up, the key issues once again are front and center. Who owns the most Bitcoin (BTC) in 2025? From exchanges and ETFs to businesses and crypto billionaires, the latest Bitcoin Rich List 2025 reveals a distribution where the shift in BTC power is still highly concentrated.
Did you know? On July 7 alone, the US-based Bitcoin ETF won $227 million for the third day in a row of strong institutional purchases.
Exchange Giants: Top Bitcoin Holders for 2025
At the top of the richest Bitcoin address list, individuals are not individuals, but huge cold wallets run by crypto exchanges. These custody protections are used to manage the liquidity of the platform and protect customer funds, and dominate the top of Bitcoin wallet ranking tools.
Leading the pack is Binance’s leading cold wallet, which currently holds around 248,600 BTC, which is around 1.25% of Bitcoin’s distribution supply.
It is the largest BTC wallet, according to data from GlassNode BTC wallets and trackers such as BitinFocharts and Concodex. The rare but important transactions in wallets point to long-term reserve management rather than trading.
Next is Robin Hood Cold Wallet, which holds around 140,600 btc (~$15 billion). If this address is likely to reflect the flow of end users rather than internal transactions, then we only look at the occasional withdrawals.
Then Bitfinex’s cold wallet follows, storing around 130,010 BTC, but in previous counts it approached 156,000 BTC. Minor changes aside, Bitfinex remains one of the top Bitcoin holders of 2025.
Other large exchange-owned wallets include:
Binance Cold Wallet #2: 115,000 BTC
Bitfinex Hack Recovery Wallet (now owned by the government): 94,600 BTC
These admin wallets account for some of the largest BTC wallets in 2025, locking in infrastructure that supports billions of dollars in daily trading volumes.
Did you know? Exchange-Held’s cold wallet uses offline hardware devices to sign transactions without exposing the private key to the internet. This “air-gap” setup effectively provides a hacking pouf even when the online system is at risk.
Institutional BTC holder: What you need to know
Strategy (previous micro-strategy)
No company is more synonymous with Bitcoin accumulation than microStrategy. It is now being rebranded simply as a strategy.
By mid-2025, the company had accumulated about 597,325 BTC, spending over $42.4 billion with an average cost per coin of $70,982. This makes the strategy the world’s largest Bitcoin holder, with a wide margin. Almost 92.5% of the balance sheet is currently in BTC. This is a bold bet that continues to define Crypto’s corporate financial strategy.
Other public Bitcoin Holdings in 2025
Strategies aside, as of 2025, around 130 public companies have integrated Bitcoin into their balance sheets, holding a total of 693,000 btc, circulating around 3.3% of all Bitcoin.
Famous participants include:
With an estimated 11,509 BTC, Tesla is quietly maintained under the current higher education Bitcoin wallet.
Block (8,584 BTC), Game Stop (4,710 BTC), Semler Scientific (4,449 BTC), XXI by Twenty One Capital (37,230 BTC).
An unexpected candidate from outside the technology sector, Metaplanet has 15,555 BTC as of July 9, 2025, with ambitious plans to accumulate 210,000 BTC by 2027.
ETFs and institutional trusts
Institutions are more than direct purchases. ETFs and trusts hold vast bitcoin reserves on behalf of millions of investors.
These Bitcoin ETF Holdings have been on a large scale, with more regulated and familiar formats for traditional investors.
Which countries hold the most bitcoin?
As of mid-2025, an estimated 529,000 BTC, about 2.5% of total supply, is sitting in a sovereign safe, reshaping the geopolitical dynamics of digital currency.
The US made the headline in March 2025 when President Donald Trump signed an executive order establishing a strategic Bitcoin reserve. Fully fed from a crime bout, this 207,189 BTC stash is worth more than $17 billion and is not on sale.
It is a long-term asset and is stored indefinitely as a kind of “digital Fort Knox.” The move solidified the US in 2025 as a top player on the Bitcoin Rich List by institutionalizing the role of BTC in national strategy.
Despite the domestic ban on crypto trading, China holds an estimated 194,000 BTC mainly from the 2019 crackdown on Plastken fraud. The coin remains dormant, but the presence proves that even a restrictive regime, dormant Bitcoin wallet can quietly shape the market.
Other sovereign holders include (as of July 8, 2025).
UK: 61,245 BTC
Ukraine: 46,351 BTC, many of which were donated during the conflict
Bhutan: 11,924 BTC, generated via hydroelectric state mining
El Salvador: 6,229 BTC, results of statutory bidding strategy launched in 2021
Supplementary, the Sovereign Bitcoin Reserve shows that digital assets are becoming strategic assets, shaping central bank policies and signaling institutional legitimacy around the world.
Did you know? Georgia holds one of the smallest sovereign Bitcoin funds of around 66 BTC worth around $8 million at its prices today.
The richest bitcoin address: Who is the top crypto billionaires?
While businesses and custodians control the largest addresses, individual holders still order amazing BTC wealth. Some are public figures. Others remain in the shadow of the blockchain.
At the top is Nakamoto at, the elusive creator of Bitcoin. His (her or her) BTC wallet, estimated to contain between 968,000 and 1.1 million BTC, has not been touched since 2010. This stash approaches like a giant where almost 5% of all Bitcoin is sleeping. If that moves, the market will erupt on speculation.
Next are the Winklevoss twins, estimated to hold about 70,000 BTC. As founders of Gemini and vocal cryptography advocates, they continue to be one of the most visible top crypto billionaires.
Tim Draper, a venture capitalist and early Bitcoin backer, still holds around 30,000 BTC purchased at the 2014 US former s auction. He had long predicted a price tag of $250,000, but he still supports it.
Michael Saylor is a double owner through his company and personally. Beyond the massive stash of strategy, Saylor himself owns 17,732 BTC (as of August 2024), worth nearly $2 billion today.
One mystery remains: 1FEEXV6BAHB8YBZJQQMJJRCCRHGW9SB6UF address, holds 79,957.26 BTC. It is thought to be tied to an early exchange exploit, and although it is currently frozen, it ranks among the richest bitcoin addresses ever recorded.
BTC Whale Tracker: On-Chain Wealth Distribution
Bitcoin ownership remains concentrated, but the story is slowly changing.
The top 10 BTC wallets (excluding Nakamoto’s holdings) control about 1.1 million BTC, roughly 5.5% of the total supply. Zooming out, the top 100 addresses hold nearly 14.7% of all circular coins, holding around 2.9 million BTC in bulk. These are mainly replacement spares, institutional holdings, or high net Bitcoin Zillas for 2025.
However, the actual shifts are coming soon. Retention wallets between 100 and 1,000 BTC have increased significantly. Over the past year, these middle-tier addresses have expanded from 3.9 million btc to 4.76 million btc. This is a significant increase in the distribution of cryptocurrency wealth, indicating that small institutions, funds, and even wealthy individuals are accumulating SATs more aggressively.
This trend is consistent with wider adoption, clearer regulations, and improved visibility of BTC whale trackers. While major players still dominate liquidity, Bitcoin’s economic foundation is expanding and could stabilize price action over time.
Who has the Bitcoin key? From cold wallet giants to growing middle class
At the top is a company that includes large-scale exchange cold wallets (Binance, Robinhood, Bitfinex) strategy, greyscale, sovereign finance ministry, and facilities vehicles such as the legendary personal wallets such as Nakamoto Atoshi’s BTC address.
Still, what’s important is ongoing change. More mid-tier bitcoin holders enter the scene, with ETF flow and sovereign justifying the role of Bitcoin in mainstream finance.
But the question remains:
Will your dormant wallet wake up?
Do companies like Strategies continue to buy or pivot as market conditions evolve?
Will the biggest BTC wallets of 2025 continue to grow or will they be redistributed?
The answers to these questions will only be revealed in the next chapter of Crypto.
This article is for general informational purposes and is not intended to be considered legal or investment advice, and should not be done. The views, thoughts and opinions expressed here are the authors alone and do not necessarily reflect or express Cointregraph’s views and opinions.
