North Korea has emerged as a top three global Bitcoin holder, fueled by cybercriminal activities linked to the Lazarus Group. They now possess 13,562 BTC, valued at $1.14 billion. The U.S. leads with 198,109 BTC, while the U.K., Bhutan, and El Salvador follow in the rankings, highlighting significant geopolitical and financial landscapes in the realm of cryptocurrency.
As the United States prepares to unveil its Strategic Bitcoin Reserve (SBR), propelled by President Trump’s Executive Order, North Korea has stealthily ascended to become one of the top three global holders of Bitcoin. Reports suggest that a hacking syndicate, allegedly linked to the North Korean government, has been channeling illicit profits into Bitcoin, effectively transforming their digital heists into a covert national savings account.
North Korea’s rise to the position of the third-largest government holder of Bitcoin can be attributed to the actions of the Lazarus Group, a state-affiliated hacking collective. On February 21, 2025, this group executed a significant hack at Bybit, securing over $1.4 billion in cryptocurrency, predominantly Ethereum, then converting a substantial portion into Bitcoin. Data from Arkham Intelligence indicates that the group currently possesses 13,562 BTC, valued at approximately $1.14 billion, effectively utilizing cybercrime as a national asset.
The accumulation of cryptocurrency by North Korea began well before the U.S. proposed the Strategic Bitcoin Reserve. However, the growth of their holdings saw marked acceleration just days prior to President Trump announcing the SBR on March 2, 2025, with official confirmation following on March 6, 2025. According to Arkham Intelligence, the United States now holds 198,109 BTC, valued around $16.71 billion, establishing it as the largest government Bitcoin holder.
The United Kingdom ranks second, holding 61,245 BTC (approximately $5.17 billion), primarily amassed through criminal asset seizures, though it has not suggested the establishment of a Strategic Bitcoin Reserve. North Korea follows closely, ahead of Bhutan and El Salvador. Bhutan, overseen by Druk Holdings, possesses 10,635 BTC ($897.60 million), while El Salvador holds 6,117 BTC, with a current valuation of $516.11 million.
The timing of North Korea’s Bitcoin accumulation raises intriguing questions regarding Kim Jong Un’s strategic intentions within the evolving crypto landscape. As the U.S. positions its reserve for strategic gains, Pyongyang appears to operate under a shroud of secrecy, converting stolen assets into a power move. This situation illustrates a complex interplay of geopolitics and cryptocurrency, where the line between legitimate strategy and illicit activities becomes increasingly blurred.
North Korea’s ascent to one of the top holders of Bitcoin reflects both the intricacies of international finance and the shadows of cybercrime. As the United States formulates its Strategic Bitcoin Reserve, North Korea has significantly built its crypto treasury through dubious means. This shifting dynamic among nations underscores the major financial implications within the emerging realm of digital currencies, where motives are often intertwined with both policy and illicit activities.
Original Source: news.bitcoin.com
