Who has the most Bitcoin in 2025: ranking of individuals, companies, and governments
There are many known stories of lost cryptocurrency, especially among early Bitcoin miners*. However, there are plenty of holders who have accumulated large amounts of the first cryptocurrency: some have preserved what they mined earlier, while others have bought or earned it.
* Miner — a user or company that mines Bitcoin cryptocurrency using computing hardware based on the Proof-of-Work (PoW) algorithm.
According to BitInfoCharts, as of November 2025, less than 1% of addresses hold more than 60% of all existing Bitcoins. Moreover, the number of wallets with a balance of more than 10 BTC (over $1 million) exceeds 140,000. River Analytics shows that almost 66% of the Bitcoin supply is held by retail investors, while only 6.2% is held by public and private companies.
This article is about who has the most Bitcoin. The value of the assets is measured as of November 2025.
Who has the most Bitcoin among private individuals?
1. Satoshi Nakamoto — 968,452 BTC
A wallet presumably belonging to the unknown creator of the first cryptocurrency holds 968,452 BTC, worth over $100 billion, representing about 5% of Bitcoin's market cap and about 2.9% of the entire crypto market.
Satoshi was and remains the largest Bitcoin holder among both individuals and companies — he owns about 4.7% of the maximum supply of the leading cryptocurrency. However, some sources, such as Arkham Intelligence, claim that Satoshi may own even more — up to 1.1 million BTC.
Satoshi not only created the Bitcoin protocol but also became the first miner to mine the genesis block and the first sender of a BTC transaction.
2. Unknown investors — 86,200 and 78,317 BTC
According to Arkham Intelligence, two unidentified wallets hold the most significant amounts of Bitcoin among private holders. Neither the identities of the owners nor the companies behind them have been established.
3. Winklevoss twins — ~70,000 BTC
Among well-known investors, the richest Bitcoin holders are Tyler and Cameron Winklevoss: according to River, around 70,000 BTC worth more than $7.3 billion are stored in their wallets.
The brothers claim they bought Bitcoin for $11 million at $10 per coin and have held their "digital gold" ever since, strictly following the HODL strategy — "buy and hold".
4. Tim Draper — 29,656 BTC
Another private individual who owns a significant amount of Bitcoin is well-known venture capitalist and investor Tim Draper. According to River, Draper purchased 29,656 BTC for $18.7 million in 2014 at $632 per coin. Today, this capital is valued at roughly $2.9 billion.
Previously, Draper owned 40,000 BTC, but these assets were lost in 2014 after the hack and bankruptcy of the infamous Mt. Gox exchange. Despite this, with new BTC purchases and adherence to the HODL strategy, Tim Draper remains among the largest private Bitcoin investors.
5. Michael Saylor — 17,732 BTC
Michael Saylor is a well-known Bitcoin maximalist and one of the strongest advocates of long-term holding. The exact number of Bitcoins Saylor holds is unknown, but in 2020, he stated on Twitter that he owned 17,732 BTC, worth more than $1.7 billion.
Saylor says he does not sell his coins and continues to buy more, but prefers not to disclose the amounts. In August 2024, when asked by a Bloomberg journalist how many Bitcoins he owns, Saylor responded: "At least as much."
Who has the most Bitcoin among public and private companies?
According to River, public companies hold over 1,000,000 BTC, or about 5% of the total Bitcoin supply, while private companies hold only 1.5%, or roughly 312,000 BTC.
1. Strategy — 641,205 BTC
The largest Bitcoin-holding company is Strategy (formerly MicroStrategy), with more than 640,000 BTC on its balance sheet, equivalent to $62.5 billion. Strategy continues to buy Bitcoin monthly, sometimes more than once.
With an average purchase price of about ~$66,300, the company's unrealized profit alone is around $30 billion. The last purchase was 397 BTC in early November.
2. Block.one — 164,000 BTC
The second-largest holder among public and private companies is Block.one, the developer of the EOS blockchain platform, which raised a record $4 billion through its 2017–2018 ICO.
According to River, Block.one wallets hold more than 164,000 BTC worth nearly $17.2 billion.
3. Tether — 87,555 BTC
Tether, the issuer of the largest stablecoin, USDT, holds Bitcoin reserves worth $9.17 billion, or more than 87,500 BTC.
4. Marathon Digital — 53,250 BTC
Marathon Digital, one of the largest industrial mining companies, owns more than 53,000 BTC, valued at over $5.5 billion.
5. Twenty One Capital — 43,514 BTC
A well-known fund investing in various cryptocurrencies, including new altcoins, during private rounds. According to River, Twenty One Capital holds over 43,000 BTC worth approximately $4.5 billion.
Who has the most Bitcoin among exchanges and investment companies?
Estimating the amount of Bitcoin held by exchanges is complicated by blurred data on customer funds. According to River (November 2024), about 12% of the Bitcoin supply held on exchanges is owned by customers.
1. Coinbase — 874,243 BTC
The American company behind the major crypto exchange Coinbase, its own crypto wallet, and the L2 network Base, owns approximately 874,000 BTC, representing more than 10% of Bitcoin's total supply.
Coinbase is the largest holder of Bitcoin among companies and exchanges, and the second-largest holder after Satoshi Nakamoto.
2. BlackRock — 797,014 BTC
BlackRock, with a market capitalization of $167.5 billion, is the world's largest investment company, managing $12.5 trillion in assets. In 2024, BlackRock entered the crypto industry by launching the Bitcoin RTF iShares Trust.
According to Arkham Intelligence, BlackRock holds over 797,000 BTC worth $83.5 billion, representing about 3.8% of Bitcoin's supply. BlackRock is the largest Bitcoin holder among crypto-ETF issuers and has even surpassed Binance in this category.
3. Binance — 612,449 BTC
According to reserve reports, Binance — one of the pioneers of the crypto industry — is the second-largest exchange holder after Coinbase. Binance wallets store nearly 612,500 BTC worth around $64 billion (about 2.9% of Bitcoin's supply).
4. Fidelity — 389,000 BTC
Another significant investment company managing over $15 trillion in assets — even more than BlackRock. Fidelity is also a Bitcoin ETF issuer and holds 389,000 BTC, valued at $41.7 billion.
5. Grayscale — 224,000 BTC
Grayscale ranks third among investment companies in Bitcoin holdings: its wallets contain over 220,000 BTC worth nearly $23.5 billion. Grayscale is a subsidiary of Digital Currency Group, which actively invests in promising altcoins.
Who has the most Bitcoin among governments?
According to various sources, governments already own more than 2% of the entire Bitcoin supply, and this number continues to grow.
1. USA — 326,588 BTC
The United States government is the largest holder of Bitcoin at the state level. According to Arkham Intelligence, U.S. government wallets hold over 326,000 BTC, about 1.5% of the total Bitcoin supply.
Part of these funds was confiscated during investigations involving the dark-net marketplace Silk Road.
2. United Kingdom — 61,245 BTC
UK government wallets hold more than 61,000 BTC — around $6.4 billion at current prices.
3. China — 15,000 BTC
As of 2025, China remains the only superpower that still bans cryptocurrency transactions — restrictions have been in place since 2021. Despite this, some reports state the Chinese government owns around 15,000 BTC worth about $1.5 billion, including assets confiscated during the 2019 Plus Token fraud case.
4. UAE — 6,428 BTC
The UAE government is also among the largest holders of Bitcoin at the state level. Wallets associated with the UAE Royal Group hold more than 6,400 BTC worth $673 million.
5. El Salvador — 6,234 BTC
El Salvador became one of the first countries to legalize Bitcoin as legal tender in 2021. The government actively invests in Bitcoin, and its holdings have exceeded 6,200 BTC, worth roughly $653 million.