Key takeaways
-
Exchanges top 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 stash.
-
Mid-tier wallets are growing, signaling broader BTC adoption.
Who owns the most Bitcoin?
As of July 2025, Bitcoin remains on solid footing. Daily inflows into spot ETFs continue to surge, backed by a noticeable drop in exchange-held reserves, suggesting rising investor confidence and long-term accumulation.
But what really turned heads this month was a sudden move of 20,000 BTC, worth 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 front and center: Who owns the most Bitcoin (BTC) in 2025? From exchanges and ETFs to corporations and crypto billionaires, the latest Bitcoin rich list 2025 reveals a shifting but still highly concentrated distribution of BTC power.
Did you know? On July 7 alone, US-based Bitcoin ETFs pulled in $217 million in net inflows, a third straight day of strong institutional buying.
The exchange giants: Top Bitcoin holders in 2025
At the top of the richest Bitcoin addresses list are not individuals, but the massive cold wallets run by crypto exchanges. These custodial reserves are used to manage platform liquidity and safeguard customer funds, and they dominate the upper ranks of any Bitcoin wallet ranking tool.
Leading the pack is Binance’s primary cold wallet, which currently holds around 248,600 BTC, roughly 1.25% of Bitcoin’s circulating supply, valued at over $26 billion.
According to Glassnode BTC wallet data and trackers like BitInfoCharts and CoinCodex, it is the largest BTC wallet. The wallet’s infrequent but significant transactions point to long-term reserve management, not trading.
Next is the Robinhood cold wallet, holding about 140,600 BTC (~$15 billion). This address sees only occasional withdrawals, likely reflecting end-user flows rather than internal trading.
It’s followed by Bitfinex’s cold wallet, which stores about 130,010 BTC, though earlier counts placed it closer to 156,000 BTC. Minor fluctuations aside, Bitfinex remains one of the top Bitcoin holders in 2025.
Other massive exchange-held wallets include:
-
Binance cold wallet #2: 115,000 BTC
-
Bitfinex hack recovery wallet (now government-held): 94,600 BTC
These custodial wallets account for several of the largest BTC wallets in 2025, anchoring the infrastructure that supports billions in daily trading volume.
Did you know? Exchange-held cold wallets use offline hardware devices to sign transactions without ever exposing private keys to the internet. This “air-gapped” setup makes them virtually hack-proof, even if online systems are compromised.
Institutional BTC holdings: What you need to know
Strategy (formerly MicroStrategy)
No corporate entity is more synonymous with Bitcoin accumulation than MicroStrategy, now rebranded simply as Strategy.
By mid-2025, the firm had amassed about 597,325 BTC, spending over $42.4 billion with an average cost of $70,982 per coin. That makes Strategy the largest public Bitcoin holder 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
Aside from Strategy, as of 2025, roughly 130 publicly traded companies have integrated Bitcoin into their balance sheets, holding a combined total of about 693,000 BTC, around 3.3% of all Bitcoin in circulation.
Well-known participants include:
-
Tesla, with an estimated 11,509 BTC, quietly maintained under the now-legendary Elon Musk Bitcoin 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 BTC as part of broader asset diversification plays.
-
Metaplanet, an unexpected contender 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 Bitcoin reserves on behalf of millions of investors:
These Bitcoin ETF holdings have introduced a more regulated, familiar format for traditional investors, and they’ve done so at scale.
Which countries hold the most Bitcoin?
As of mid-2025, an estimated 529,000 BTC, about 2.5% of the total supply, is sitting in sovereign vaults, reshaping the geopolitical dynamics of digital currency.
The United States made headlines in March 2025 when President Donald Trump signed an executive order establishing a Strategic Bitcoin Reserve. Sourced entirely from criminal seizures, this 207,189 BTC stash, worth over $17 billion, isn’t for sale.
It’s a long-term asset, stored indefinitely as a kind of…
cointelegraph.com