Who Owns the Most Bitcoin?

• Michael Willson
• May 04, 2025

As of 2025, the biggest known Bitcoin holder is Satoshi Nakamoto, Bitcoin’s anonymous creator. Satoshi is estimated to own around 1.1 million BTC, which has remained untouched since 2010. That alone makes up over 5% of the total 21 million BTC supply.

But Satoshi isn’t the only one. Today, Bitcoin is held by a mix of early investors, crypto billionaires, big companies like MicroStrategy and Tesla, global governments, and large financial institutions through Bitcoin ETFs.

This article breaks down who owns the most Bitcoin, how it’s distributed, and what trends are shaping Bitcoin ownership today.

Who Owns the Most Bitcoin?

The largest single holder is Satoshi Nakamoto, with about 1.1 million BTC mined during Bitcoin’s early days. These coins sit in wallets that have never moved, adding to the mystery.

Next in line are Bitcoin ETFs, particularly in the U.S., which together hold over 1.1 million BTC on behalf of institutional investors.

Other major holders include crypto exchanges like Binance and corporate entities like MicroStrategy.

Bitcoin Billionaires

Over the years, Bitcoin has turned many people into billionaires. Some got in early. Others earned BTC through business or mining.

Notable individuals with large Bitcoin holdings include:

• Satoshi Nakamoto – ~1.1 million BTC
• Michael Saylor (personally) – ~17,732 BTC
• Winklevoss Twins – ~70,000 BTC
• Tim Draper – ~29,656 BTC
• Roger Ver – Estimated to have held 100,000+ BTC at his peak

Their net worth in BTC varies as prices change, but most of these individuals are widely considered Bitcoin billionaires.

Bitcoin Wealth Distribution

Bitcoin isn’t evenly spread out. A small number of wallets hold a big share of BTC.

Bitcoin Distribution by Wallet Size

Even though millions of people hold Bitcoin, most own less than 1 BTC.

Companies Holding the Most Bitcoin

Some companies have made Bitcoin part of their treasury strategy. MicroStrategy, led by Michael Saylor, is the biggest corporate holder.

Top Companies Holding Bitcoin 

Some of these companies buy BTC directly, while others earn it through mining or services.

Governments Holding the Most Bitcoin

Governments acquire Bitcoin mostly through seizures, but some are now buying it for reserves.

• United States – ~207,189 BTC (from Silk Road, Bitfinex hacks, etc.)
• China – ~194,000 BTC (from PlusToken scam)
• United Kingdom – ~61,000 BTC
• Ukraine – ~46,351 BTC (disclosed by officials and donations)
• Bhutan – ~13,029 BTC (quietly mined for years)
• El Salvador – ~6,003 BTC (first nation to adopt Bitcoin)

Most of these holdings are dynamic and may change due to legal or policy decisions.

ETFs Are Now Major Holders Too

Bitcoin ETFs in the U.S. were approved in January 2024. Since then, their combined holdings have grown fast.

Major ETF holders include:

• BlackRock (IBIT) – ~275,000 BTC
• Fidelity (FBTC) – ~172,000 BTC
• ARK 21Shares (ARKB) – ~52,000 BTC
• Grayscale (GBTC) – ~291,000 BTC

Together, these ETFs hold over 1.1 million BTC, more than most governments or corporations.

Total Bitcoin Supply

Bitcoin is limited to 21 million coins. Here’s how the supply looks in 2025:

• 19.7 million BTC mined so far
• 1.5 million BTC estimated lost forever
• 2.8 million BTC left to be mined

Lost coins include those in wallets with forgotten passwords, lost hard drives, or unclaimed inheritance.

Other Trends in Bitcoin Ownership

In addition to ETFs and big holders, these trends are shaping ownership:

• Wrapped Bitcoin (WBTC) on Ethereum: Over 170,000 BTC are used in DeFi.
• Lightning Network: More BTC is being locked in channels for fast payments.
• Custodial services: Users store BTC on apps like Coinbase and Robinhood, though this means the company, not the user, controls the private keys.
• Dormant coins: Millions of BTC haven’t moved in over 10 years, likely lost forever.

These patterns matter for understanding how “liquid” Bitcoin really is.

How Bitcoin Ownership Is Changing

Bitcoin is becoming more distributed over time. New ETFs and easier wallets are onboarding regular investors. Still, large holders—also known as whales—can move markets, so their influence remains.

With every halving cycle, Bitcoin gets scarcer. This creates more competition and incentive for individuals, companies, and countries to own even small amounts.

Final Thoughts

So, who owns the most Bitcoin? Satoshi still tops the list, but ETFs and companies are catching up. Wealth is still concentrated, but that’s slowly changing. As more tools and services emerge, Bitcoin is reaching new people every year. To make the most of the crypto world, get a Crypto Certification.

Want to understand the data behind this landscape? Learn more with a Data Science Certification.

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