Who Owns the Most Bitcoin (BTC)?

The brilliance of Bitcoin (BTC) is its decentralization - a digital currency free from central banks and governments. But maybe one of the most asked questions by investors and crypto enthusiasts alike is: Who owns the most Bitcoin? And, more directly, who are the biggest Bitcoin owners worldwide in 2025?

This article takes a deep dive into the Bitcoin largest holders globally, from mysterious pseudonymous creators to major financial institutions, crypto exchanges, and business intelligence giants. Whether you're looking for the top 10 largest Bitcoin holders or trying to understand how Bitcoin ownership is distributed today, this is your go-to guide.

Why Knowing the Largest Bitcoin Holders Matters

Bitcoin price is based on demand and supply, and whales - as people like to refer to them - can actually turn the market around. When one of the largest Bitcoin holders in the world executes a buy or sell, that action creates ripples throughout the whole crypto market. It's useful to have knowledge of the owner of most Bitcoin globally for purposes of assessing:

• Liquidity risks

• Market manipulation potential

• Investor confidence

• Institutional adoption

As more public institutions venture into the Bitcoin realm, ownership is more transparent - but increasingly concentrated.

Who Are the Top 10 Largest Bitcoin Holders in 2025?

Here's a summarized look at the who owns the most Bitcoin in the world:

Rank	Holder	BTC Held (Est.)	Type
1	Satoshi Nakamoto	1,100,000	Individual (unknown)
2	Binance	617,534	Exchange (custodial)
3	Grayscale (GBTC)	292,268	ETF / Brokerage
4	BlackRock (IBIT)	274,322	ETF / Asset Manager
5	MicroStrategy	214,400	Corporate Treasury
6	U.S. Government	210,000+	Government (seized)
7	Winklevoss Twins	70,000+ each	Private Investors
8	Tim Draper	30,000	Venture Capitalist
9	Unknown Whales & Early Miners	100,000-500,000	Individual / Anonymous
10	Bitfinex Wallets	~200,000	Exchange (custodial)

Note: Numbers are based on publicly available data as of May 2025 and are subject to market changes.

Who Has the Most Bitcoin in 2025?

1. Satoshi Nakamoto - Estimated 1.1 Million BTC

The enigmatic inventor of Bitcoin, Satoshi Nakamoto, retains the lead. Examination of early mining data ties more than 1.1 million BTC to Satoshi addresses - valued at more than $68 billion as of May 2025.

Satoshi coins are untouched and comprise the notorious Genesis block that has the original 50 BTC mined. Nakamoto's investment may not make them an ongoing investor, yet their holding establishes them as the largest Bitcoin holders in the world alone - and likely richest, were they ever uncovered.

2. Binance - More than 617,000 BTC

Having been the world's largest cryptocurrency exchange by trade volume, Binance holds gigantic amounts of Bitcoin on behalf of users. According to its May 2025 Proof-of-Reserves report, Binance is holding 617,534 BTC in reserve and has more than 106% of what it owes customers in BTC.

These reserves position Binance in the list of the global Bitcoin largest holders, although the BTC is owned by millions of retail and institutional investors, not the platform.

3. Grayscale Bitcoin Trust (GBTC) - 292,268 BTC

Grayscale led institutional Bitcoin exposure with its Bitcoin Trust. While several spot ETF approvals in January 2024 led to outflows, GBTC still holds over 292,000 BTC and is the largest holder of Bitcoin in traditional brokerages.

Grayscale, owned by Digital Currency Group (DCG), has long been a leader in bringing Bitcoin into mainstream finance.

4. BlackRock iShares (IBIT) - 274,322 BTC

Since its debut of its iShares Bitcoin Trust (IBIT) in January of 2024, BlackRock swiftly acquired over 274,000 BTC. This makes it one of the fastest-growing Bitcoin ETF managers globally.

BlackRock's entry into the crypto arena was a landmark moment for institutional onboarding, further cementing Bitcoin as an asset class essential to traditional investors.

5. MicroStrategy - 214,400 BTC

With Michael Saylor at the helm, MicroStrategy has been the leading face of Bitcoin promotion. The firm has been aggressively acquiring BTC since 2020 and, as of May 2024, possesses 214,400 BTC.

Saylor believes that Bitcoin is a "monetary lifeboat" in times of inflation and fiat devaluation all over the world. MicroStrategy's aggressive purchasing has made it the world's largest corporate holder of Bitcoin.

Other Prominent Bitcoin Holders

While it is simple to determine the five Bitcoin largest holders through blockchain data and publicly reported information, there are institutions and players that possess huge amounts of BTC.

United States Government - Over 210,000 BTC

The US government is the largest government owner of Bitcoin with over 210,000 BTC held from criminal case seizures and cybercrime probes. Some of the some of the notable sources include:

• The Silk Road seizure

• The Bitfinex hack recovery

• Ransomware attacks

A few of the coins have been sold at auction, but the majority are still in federal custody.

Winklevoss Twins

Twin brothers Tyler and Cameron Winklevoss, who founded the Gemini exchange, are two of the first reported crypto billionaires. Both are reported to own approximately 70,000 BTC and are two of the largest individual Bitcoin investors.

Tim Draper

Venture capitalist Tim Draper bought some 30,000 BTC during a U.S. Marshals auction in 2014. He remains among the most publicized early supporters of Bitcoin.

Early Adopters and Private Whales

There are relatively many anonymous Bitcoin whales - like the 1Feex wallet, with 79,000 BTC - tracked by blockchain surveillance. Those accounts, likely being related to early mining or old exchange hacks, still are amongst the largest individual Bitcoin addresses on the planet.

Bitcoin ETF Impact on 2024 Ownership

The SEC approval of 11 spot Bitcoin ETFs in Jan 2024 redefined Bitcoin ownership. Institutional capital had direct exposure to BTC through traditional investment vehicles for the very first time. Consequences:

• The retail share of Bitcoin ownership decreased

• Brokerages and asset managers now hold enormous BTC inventories

• Liquidity and price stability increased with increased demand

These trends suggest that the majority of Bitcoin is now owned by institutions, rather than institutionally driven to individual ownership.

Is Bitcoin Ownership Too Concentrated?

While Bitcoin is designed to be decentralized, recent data suggests that ownership remains highly concentrated. Reports have placed estimates at:

• Around 2% of BTC wallets contain over 95% of supply in circulation

• Exchanges and ETFs contain a significant percentage

• Over 1 million BTC is estimated to be lost due to lost keys or dead wallets

Such concentration risks are:

• Risk of price manipulation

• Market crashes due to whales

• Centralized choice-making by big holders

However, more institutional investment can make the market more even and add more transparency through public reporting requirements.

Bitcoin's Ownership Structure

So who owns the most Bitcoin in the world? It's still Satoshi Nakamoto - but the broader landscape of Bitcoin ownership is rapidly shifting. From centralized exchanges like Binance to ETFs run by Grayscale and BlackRock, Bitcoin has jumped from a niche investment to a mainstream financial product.

Further launches of spot Bitcoin ETFs in 2025 have increased institutional ownership, bringing Bitcoin's profile into adulthood from retail aficionados to a formal, investment-grade asset. Still, with its open blockchain and decentralized mindset, Bitcoin remains one of the world's most trackable financial systems. It is not trivial to be aware of who owns the largest amount of Bitcoin - it is a vital glimpse into market control, liquidity danger, and impending crypto adoption trajectory.