North Korea has become the third-largest government holder of bitcoin, accumulating 13,562 BTC valued at $1.14 billion through hacking syndicates, particularly the Lazarus Group. This rise coincides with the U.S. establishing its Strategic Bitcoin Reserve, highlighting a unique interplay of geopolitics and cryptocurrency. The U.S. currently holds 198,109 BTC, leading globally, followed by the U.K. and others.
As the U.S. prepares to launch a Strategic Bitcoin Reserve (SBR) initiated by President Trump, North Korea has emerged as one of the top three global holders of bitcoin. This leap in rankings is attributed to a hacking group, purportedly linked to the North Korean regime, which has redirected funds from digital heists into bitcoin, creating a covert national savings mechanism.
North Korea’s ascent to becoming the third-largest government bitcoin holder is notably influenced by the Lazarus Group, a state-associated hacking collective. On February 21, 2025, the group executed a significant theft at Bybit, amassing over $1.4 billion in cryptocurrency, primarily ethereum, and converting a substantial portion into BTC. Arkham Intelligence states that this group now holds 13,562 BTC, equating to approximately $1.14 billion, thereby treating cybercrime as a state asset.
North Korea’s bitcoin accumulation predates the U.S. announcement of its SBR and became notably pronounced shortly before President Trump’s SBR teaser on March 2, 2025. Following the executive order signing on March 6, 2025, the U.S. confirmed its position with 198,109 BTC, valued at $16.71 billion, establishing it as the largest government bitcoin holder globally.
The United Kingdom holds the second spot with 61,245 BTC, estimated at $5.17 billion. Although the U.K. hasn’t proposed an SBR, it has accumulated bitcoin through criminal seizures. North Korea occupies the third position, surpassing Bhutan and El Salvador in bitcoin holdings. Bhutan, managed by Druk Holdings, possesses 10,635 BTC ($897.60 million), while El Salvador’s holdings stand at 6,117 BTC, valued at $516.11 million.
The timing of North Korea’s advance in cryptocurrency coincides with the U.S. revealing its SBR, posing questions about Kim Jong Un’s intentions in the evolving cryptocurrency landscape. This scenario suggests a blend of digital financial maneuvers and geopolitical strategy. Both nations engage in a complex interaction around cryptocurrency, where intentions often intertwine with actions, embodying a game of policy and power amid rising digital assets.
North Korea’s rise to becoming a top government bitcoin holder underscores its strategy of leveraging cybercrime for national benefit. Concurrently, the U.S. is set to launch its Strategic Bitcoin Reserve as part of its economic strategy. With North Korea’s bitcoin holdings reflecting a mix of illicit gains and geopolitical tactics, both nations illustrate how digital currencies are reshaping international power dynamics and economic strategies in the 21st century.
Original Source: news.bitcoin.com
