Bitcoin remains the most dominant cryptocurrency, with a market capitalization exceeding $1.9 trillion. At this scale, the holdings of the largest Bitcoin wallets are nothing short of staggering—some storing billions of dollars’ worth of BTC. These so-called “Bitcoin whales” play a crucial role in market dynamics, influencing price movements and investor sentiment.
In this deep dive, we explore the top 10 largest Bitcoin holders as of early 2025, analyzing their wallet addresses, transaction behaviors, and the stories behind their massive BTC accumulations. Whether they belong to exchanges, law enforcement agencies, or mysterious entities, each entry on this list reveals a unique chapter in Bitcoin’s evolving narrative.
Top 10 Bitcoin Holders: Who Owns the Most BTC?
Data as of February 24, 2025. Source: Bitinfocharts, Arkham Intelligence
1. Binance Cold Wallet #1
Holdings: 248,598 BTC
Value: $23.7 billion
Address: 34xp4vRoCGJym3xR7yCVPFHoCNxv4Twseo
Leading the pack is a cold storage wallet owned by Binance, the world’s largest cryptocurrency exchange by trading volume. This single address holds over 1.2% of all circulating Bitcoin, making it the most significant known BTC holder.
Established in October 2018, this wallet operates as long-term cold storage for customer funds. It rarely initiates outgoing transactions—its last major transfer occurred about two years ago. However, when it does move BTC, the volumes are enormous; one transaction involved over 110,000 BTC.
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2. Bitfinex Cold Wallet
Holdings: 156,010 BTC
Value: $14.9 billion
Address: bc1qgdjqv0av3q56jvd82tkdjpy7gdp9ut8tlqmgrpmv24sq90ecnvqqjwvw97
Bitfinex, founded in 2012, maintains one of the oldest and largest cold wallets in the ecosystem. Despite controversies—including a major 2016 hack and scrutiny around its affiliated stablecoin USDT—this wallet remains largely inactive, only moving large sums during rare operational events.
Notably, it received a 50,000 BTC deposit in February 2020 and made two 12,000 BTC transfers in November 2024. These infrequent but high-value transactions suggest strong custodial practices and strategic reserve management.
3. Robinhood Cold Wallet
Holdings: 140,575 BTC
Value: $13.4 billion
Address: bc1ql49ydapnjafl5t2cp9zqpjwe6pdgmxy98859v2
According to blockchain intelligence firm Arkham Intelligence, this wallet is linked to Robinhood, the popular retail trading platform. While Robinhood has not officially confirmed ownership, evidence points to Jump Trading acting as custodian.
The wallet began receiving large inflows in May 2023, with deposits ranging from thousands to tens of thousands of BTC. It conducts periodic large outflows every few months—consistent with exchange settlement cycles or rebalancing operations.
4. Binance Cold Wallet #2
Holdings: 109,586 BTC
Value: $10.5 billion
Address: 3M219KR5vEneNb47ewrPfWyb5jQ2DjxRP6
Another Binance-controlled cold wallet, active since November 2018, ranks fourth. Although its balance has dropped from over 130,000 BTC in mid-2024 to just under 110,000 BTC today, it remains a cornerstone of Binance’s treasury strategy.
Remarkably, this wallet has facilitated over 4.5 million BTC in total transaction volume, representing roughly a quarter of all Bitcoin ever mined. This underscores its historical importance in facilitating large-scale exchange movements.
5. FBI Wallet (BTC from 2016 Bitfinex Hack)
Holdings: 94,643 BTC
Value: $9.0 billion
Address: bc1qazcm763858nkj2dj986etajv6wquslv8uxwczt
This wallet holds Bitcoin stolen during the infamous 2016 Bitfinex hack, later recovered by U.S. authorities in February 2022. The seizure followed the arrest of Ilya Lichtenstein and Heather R. Morgan, accused of laundering the stolen funds.
All major deposits occurred on February 1, 2022, and the wallet has remained dormant since—neither sending nor spending any BTC. Future movements could signal asset liquidation or redistribution as part of legal proceedings.
6. Tether Cold Wallet
Holdings: 83,759 BTC
Value: $7.9 billion
Address: bc1qjasf9z3h7w3jspkhtgatgpyvvzgpa2wwd2lr0eh5tx44reyn2k7sfc27a4
Tether Limited, issuer of the USDT stablecoin, owns this substantial Bitcoin reserve. Arkham Intelligence confirms that funds were transferred from Bitfinex hot wallets to bolster Tether’s balance sheet with BTC holdings.
While not publicly disclosed as a strategic reserve asset before, this wallet highlights Tether’s growing diversification beyond purely fiat-backed reserves—an emerging trend among major crypto firms.
7. Mt. Gox Hacker Wallet
Holdings: 79,957 BTC
Value: $7.6 billion
Address: 1FeexV6bAHb8ybZjqQMjJrcCrHGW9sb6uF
This address belongs to an unknown hacker who stole nearly 80,000 BTC from Mt. Gox in 2011—a heist confirmed by former CEO Mark Karpeles in August 2023.
Despite holding these funds for over a decade, the wallet has never initiated an outgoing transaction. Its continued dormancy raises questions about whether the hacker is still alive or simply biding time amid increasing blockchain surveillance.
8. Unidentified Owner
Holdings: 78,317 BTC
Value: $7.5 billion
Address: bc1q8yj0herd4r4yxszw3nkfvt53433thk0f5qst4g
One of the most intriguing entries is this anonymous wallet, activated on March 24, 2024, after receiving a split from another whale known as “37XuVSEp.” Initially funded with over 94,000 BTC, it now holds approximately 78,317 BTC after redistribution.
Since then, it has only received minor inflows—possibly from curious users attempting symbolic transfers to associate with a top-tier whale.
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9. FBI Wallet (Silk Road Confiscated BTC)
Holdings: 69,370 BTC
Value: $6.6 billion
Address: bc1qa5wkgaew2dkv56kfvj49j0av5nml45x9ek9hz6
This wallet contains Bitcoin seized not from Silk Road operators but from “Individual X”—a hacker who infiltrated Silk Road between 2012 and 2013 and stole vast amounts of BTC.
In November 2020, “Individual X” agreed to forfeit the stolen coins to U.S. authorities. The wallet has seen no outgoing transactions since, indicating long-term government holding.
10. Binance BTCB Reserve
Holdings: 68,200 BTC
Value: $6.5 billion
Address: 3LYJfcfHPXYJreMsASk2jkn69LWEYKzexb
This wallet secures BTCB, Binance’s wrapped Bitcoin token on Binance Smart Chain (BSC). Each BTCB token is backed 1:1 by real Bitcoin held in reserve.
New BTCB issuance triggers deposits into this wallet; redemptions result in withdrawals. Though transaction frequency is low due to batch processing, transparency advocates closely monitor it to ensure full backing at all times.
Frequently Asked Questions (FAQs)
Who owns the most Bitcoin?
The largest single wallet belongs to Binance, holding over 248,598 BTC. However, when aggregating across multiple addresses, Coinbase likely holds more overall—over 770,500 BTC across its infrastructure. Additionally, Satoshi Nakamoto, Bitcoin’s pseudonymous creator, may hold between 600,000 and 1 million BTC, though these remain untouched and unspent.
Are these wallets safe from hacks?
Most top wallets use cold storage, meaning they are offline and inaccessible via the internet—significantly reducing hacking risk. Exchanges like Binance and Bitfinex employ multi-signature security and institutional-grade custody solutions to protect assets.
Can governments sell seized Bitcoin?
Yes—U.S. authorities have previously auctioned off seized cryptocurrency. The FBI-held wallets (from Bitfinex and Silk Road) could be liquidated in the future through public sales or private placements, potentially impacting market prices if done at scale.
How do blockchain analysts identify whale owners?
Analysts use on-chain clustering, transaction patterns, IP tracing (when available), and public disclosures to link addresses to entities. Platforms like Arkham Intelligence combine open-source data with investigative research to map ownership.
Why don’t some whale wallets ever spend their BTC?
Long-term holders—including alleged hackers or early adopters—may avoid spending due to legal risks, fear of exposure, or belief in Bitcoin’s future value. Dormant wallets often reflect strategic accumulation rather than inactivity.
Does whale movement affect Bitcoin’s price?
Absolutely. Large withdrawals or transfers from major wallets can trigger volatility. For example, if Binance moves tens of thousands of BTC to hot wallets, traders interpret it as potential selling pressure—prompting short-term price reactions.
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Final Thoughts
The Bitcoin rich list offers a rare glimpse into the upper echelons of crypto wealth—from regulated exchanges and financial institutions to law enforcement seizures and shadowy hackers. While names like Binance dominate today’s rankings, history reminds us that early players like Mt. Gox and Silk Road shaped the ecosystem we know now.
Understanding who holds Bitcoin—and why—helps investors anticipate market shifts and appreciate the growing interplay between technology, regulation, and finance in the digital asset world.
As transparency improves and on-chain analysis advances, expect more clarity on ownership—but also new mysteries as new whales emerge from the shadows.
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