Bitcoin, the world’s first decentralized digital currency, has gained immense popularity and value since its inception in 2009. As the cryptocurrency market continues to evolve, one question that often arises is: Who owns the most Bitcoin?
In this article, we delve into the depths of the blockchain to shed light on the top Bitcoin investors and holders, ranging from individuals to companies and even governments.
Who owns the most Bitcoin?
Satoshi Nakamoto, the anonymous inventor of Bitcoin, is believed to be in possession of a wallet with 1,000,000 BTC, which makes them the largest Bitcoin holder. Other large Bitcoin holders include the publicly traded MicroStrategy, with a 140,000 BTC stash, and electric vehicle manufacturer Tesla, with 9,720 BTC.
While cryptocurrency exchanges are some of the largest holders of Bitcoin, with Coinbase, for instance, storing over 2,000,000 BTC, they are custodians of their users’ funds and don’t own these Bitcoin. For this reason, they are not included in our list. The same goes for Grayscale, Coinshares, and other funds and ETF-like investment vehicles.
Here’s an overview of the largest Bitcoin holders:
| Amount of BTC | USD Value | Type | |
|---|---|---|---|
| Satoshi Nakamoto | 1,000,000 | $27,109,400,000 | Individual |
| United States | 205,515 | $5,566,414,878 | Government |
| Block.one | 164,000 | $4,445,941,600 | Private Company |
| Microstrategy | 140,000 | $3,795,316,000 | Public Company |
| Winklevoss Twins | 70,000 | $1,897,658,000 | Individual |
| Tether Holdings | 52,673 | $1,427,933,426 | Private Company |
| Ukraine | 46,351 | $1,256,547,799 | Government |
| Tim Draper | 29,656 | $803,956,366 | Individual |
| The Tezos Foundation | 24,808 | $672,529,995 | Private Company |
| Michael J. Saylor | 17,732 | $480,703,881 | Individual |
| Tesla | 9,720 | $263,503,368 | Public Company |
| Hut 8 Mining Corp | 8,388 | $227,393,647 | Public Company |
*data collected on May 31st, 2023. Values based on BTC price of $27,080. Source: Bitcoin Treasuries, Fool.com, Bitcoin.com
Individuals who own the most Bitcoin
Here are the largest Bitcoin stashes belonging to individuals and prominent Bitcoin investors who own BTC in a personal capacity.
1. Satoshi Nakamoto – 1,000,000 BTC ($27 billion)
Bitcoin inventor Satoshi Nakamoto is widely believed to be in possession of the largest Bitcoin wallet, holding 1 million BTC. That would make Satoshi the richest Bitcoin holder in the world, controlling more than 5% of all Bitcoin in circulation. It is worth noting that nobody knows whether Satoshi Nakamoto is a single person or a group of people, or whether they are still alive. That’s just one of the mysteries surrounding Satoshi Nakamoto. It is worth noting that no BTC deposited in Satoshi’s wallet was ever moved.
2. Winklevoss Twins – 70,000 BTC ($1.9 billion)
The Winklevoss twins, Cameron and Tyler Winklevoss, are American entrepreneurs and investors who gained fame for their involvement in the early days of Facebook and their subsequent ventures in the cryptocurrency space (they opened the crypto exchange Gemini in 2013). They also founded Winklevoss Capital Management, a venture capital firm that invests in various technology-based companies, including those operating in the blockchain and cryptocurrency sectors. According to a report from Fool.com, the twins started investing in BTC when it was worth just $10 in 2012 and are believed to hold roughly 70,000 BTC.
3. Tim Draper – 29,656 ($803 million)
Tim Draper is an American venture capitalist and entrepreneur known for his investments in early-stage technology companies, including blockchain-focused ventures. In 2014, he purchased nearly 30,000 BTC at an auction held by the United States Marshals Service, which was selling Bitcoin seized in the Silk Road raid. Draper is very bullish on BTC and believes that it will reach $250,000 in the future.
Publicly traded companies that own the most Bitcoin
There are several notable publicly traded companies that have invested in Bitcoin as part of their investment strategy and diversification efforts. Let’s explore the top three.
1. Microstrategy – 140,000 BTC ($3.8 billion)
MicroStrategy (MSTR) is an American business intelligence company that specializes in providing software solutions and services for data analytics and business intelligence. In recent years, MicroStrategy has gained significant attention for its adoption of Bitcoin as a treasury reserve asset. Interestingly, at $3.88 billion, the market cap of Microstrategy is just a tad higher than the total value of Bitcoin it holds ($3.79 billion).
2. Tesla – 9,720 BTC ($263 million)
Electric car manufacturer Tesla (TSLA) is the second largest Bitcoin owner among publicly traded companies. While the company holds less than 10,000 BTC at the time of writing, it did hold as many as 43,850 coins in the past. Tesla was accepting BTC payments for a brief period in 2021, but eventually discontinued the service due to environmental concerns. In addition to Bitcoin, Tesla is also involved with Dogecoin – Elon Musk’s favorite crypto, allowing customers to buy merch with DOGE. It is worth noting that Tesla founder and CEO Elon Musk is invested in Bitcoin in a personal capacity as well, although it is unknown to what extent.
3. Hut 8 Mining Corp – 8,388 BTC ($227 million)
Hut 8 Mining Corp (HUT) is a digital assets mining infrastructure company based in North America. The company operates cloud and colocation data center facilities in Canada, targeting enterprise customers seeking computing services. According to Bitcoin Treasuries, Hut 8 Mining Corp has a Bitcoin stash worth more than $227 million, making it the third largest publicly traded company in the world.
Private companies that own the most Bitcoin
Private companies are one of the largest Bitcoin owners. Here are the top three largest BTC stashes belonging to private companies.
1. Block.one – 164,000 BTC ($4.4 billion)
Founded in 2017, Block.one is a software company that is known for developing and supporting blockchain-based solutions, including the creation of the EOS.IO software protocol. Block.one conducted an initial coin offering for EOS in 2018, raising a record-breaking amount of funds through the sale of its native cryptocurrency token, EOS. The ICO raised over $4 billion dollars, making it the largest ICOs in history.
2. Tether Holdings – 52,673 BTC ($1.4 billion)
Tether Holdings is a company that is closely associated with the creation and management of the Tether (USDT) stablecoin cryptocurrency. Tether Holdings operates by issuing and managing Tether tokens, which are built on different blockchain platforms such as Bitcoin, Ethereum, and others. Each Tether token is meant to represent one U.S. dollar.
3. The Tezos Foundation – 24,808 BTC ($672 million)
Founded in 2018, the Tezos Foundation is a non-profit organization that supports the development and advancement of the Tezos (XTZ) blockchain network. Among other things, the foundation manages and allocates the funds raised during the ICO to support the ongoing development and sustainability of the Tezos ecosystem. According to Bitcoin Treasuries, the foundation manages more than $672 million worth of BTC.
Countries that own the most Bitcoin
In addition to public and private companies and individuals, countries also control quite a decent chunk of circulating Bitcoin.
1. United States – 205,515 BTC ($5.5 billion)
The United States is the largest holder of Bitcoin among countries. It holds over $5.5 billion worth of Bitcoin, a large portion of which was seized in three cases – Silk Road, Bitfinex, and the seizure of James Zhong’s BTC. According to Bitcoin.com, the US holds 205,515 BTC.
2. Ukraine – 46,351 BTC ($1.2 billion)
The Ukrainian government manages $1.2 billion worth of Bitcoin. The country has received a lot of financial support in the form of cryptocurrency during the war against Russia that started last year. Even before the war, Ukraine was very open to the blockchain sector, passing favorable crypto regulations and making it easier for crypto companies to do business in the country.
3. El Salvador – 2,381 BTC ($107 million)
El Salvador is likely the most well-known country for owning Bitcoin. However, the Central American country doesn’t just own Bitcoin, it went a step further and became the first country in the world to adopt Bitcoin as legal tender in 2021. At the moment, El Salvador owns 2,381 BTC, worth roughly $107 million at current market rates.
Who is the biggest investor in Bitcoin?
MicroStrategy is the largest public investor in Bitcoin, sitting on a $3.8 billion BTC stash. The company’s executive chairman Michael Saylor holds $480 million worth of BTC in a personal capacity.
The biggest investor in Bitcoin is the publicly traded company MicroStrategy, which has spent billions of dollars on its Bitcoin investments over the past couple of years. While MicroStrategy is not the biggest holder of Bitcoin, it is an entity that has invested the most fiat in Bitcoin and now has a Bitcoin stash worth close to $3.8 billion.
In addition, the executive chairman and a co-founder of MicroStrategy, Michael Saylor, is also very bullish on Bitcoin in his personal life. According to Bybit, Saylor owns 17,732 BTC in a personal capacity, worth over $480 million. That means that Saylor is not exactly a crypto billionaire, but is still very heavily invested in crypto.
Why do people invest in Bitcoin?
People invest in Bitcoin for various reasons, driven by a combination of factors that make it an appealing investment opportunity. Here are some key reasons why individuals choose to invest in Bitcoin:
- Potential for high returns: Bitcoin has gained significant attention for its potential to generate substantial returns. Its price has experienced significant volatility over the years, leading to both rapid price increases and occasional corrections. For context, Bitcoin has gained a whopping +54,000,000% since 2010.
- Store of value: Bitcoin is often seen as a digital store of value, similar to gold. Some investors view it as a hedge against inflation and a way to preserve their wealth in uncertain economic times. Bitcoin’s limited supply (capped at 21 million coins) and its decentralized nature make it resistant to traditional monetary policies that can lead to devaluation of fiat currencies.
- Diversification and portfolio allocation: Bitcoin offers an opportunity to diversify investment portfolios. Adding Bitcoin to an investment portfolio can potentially increase potential returns.
- Decentralization and financial sovereignty: Bitcoin’s decentralized nature appeals to those seeking financial sovereignty and independence from centralized financial institutions. Bitcoin allows individuals to have full control over their funds and make peer-to-peer (P2P) transactions without relying on intermediaries.
- Technological innovation and potential: Many investors are attracted to Bitcoin because of its underlying blockchain technology and its potential to revolutionize various industries. Bitcoin’s blockchain offers secure, transparent, and immutable transactions, and its potential applications extend beyond currency to areas such as supply chain management and DeFi.
- Early adoption and growth potential: Bitcoin is still considered relatively early-stage in terms of mainstream adoption. Some investors are drawn to the potential growth prospects as more individuals, businesses, and institutions embrace Bitcoin and cryptocurrencies, potentially driving up demand and value over time.
- Accessible and global market: Bitcoin’s digital nature and the availability of cryptocurrency exchanges have made it accessible to a global audience. Investors can easily trade, sell, and buy Bitcoin, even in regions with limited traditional financial services.
The bottom line
As you can see from our list, there are quite a number of companies, governments, and private investors who are Bitcoin billionaires. However, the actual number could be much higher, as staying anonymous as a large crypto investor is much easier than in traditional finance. For all we know, there could be numerous other individuals that hold billions worth of BTC that the public doesn’t know about.
If you want to learn more about the wealthiest individuals in the cryptocurrency industry, you can check our articles about the net worth of Ethereum founder Vitalik Buterin, TRON founder Justin Sun, and Litecoin founder Charlie Lee.
Source: https://coincodex.com/article/27901/who-owns-the-most-bitcoin/