North Korea has emerged as a leading government holder of bitcoin, currently ranking third globally, due to illicit activities linked to the Lazarus Group. This rise coincides with the U.S. announcement of a Strategic Bitcoin Reserve (SBR), initiated by President Trump’s Executive Order. With the U.S. holding the most bitcoin, North Korea’s actions indicate a blend of cyber strategies and geopolitical ambitions in the cryptocurrency arena.
The United States is preparing to establish a Strategic Bitcoin Reserve (SBR), which stems from President Trump’s Executive Order. In the midst of this, North Korea has emerged as one of the largest holders of bitcoin globally, allegedly due to illicit activities conducted by the Lazarus Group, a state-linked hacking organization. This group has reportedly converted their stolen cryptocurrency into bitcoin, effectively creating a digital reserve for their national interests.
North Korea’s ascension to become the third largest government holder of bitcoin is noteworthy. A significant event occurred on February 21, 2025, when the Lazarus Group executed a heist at Bybit, resulting in the theft of over $1.4 billion in cryptocurrency, predominantly ethereum. According to Arkham Intelligence, the group currently possesses 13,562 BTC, valued at approximately $1.14 billion, which signifies an unusual conversion of cybercrime into a national asset.
Even before the U.S. proposed its SBR, North Korea had been amassing its cryptocurrency wealth. However, this collection appears to have intensified shortly before President Trump announced the SBR on March 2, 2025. Following this, the Executive Order was signed on March 6, 2025, heightening the intrigue surrounding the geopolitical implications of this digital currency.
The United States leads as the largest holder of bitcoin, with a total of 198,109 BTC worth about $16.71 billion. The United Kingdom follows as the second-largest holder with 61,245 BTC (approximately $5.17 billion). North Korea’s bitcoin holdings place it next, ahead of Bhutan and El Salvador. Bhutan, through its management by Druk Holdings, possesses 10,635 BTC ($897.60 million), while El Salvador’s bitcoin reserves stand at 6,117 BTC ($516.11 million).
The synchrony of North Korea’s growing cryptocurrency holdings with the U.S. SBR proposal raises intriguing questions. It may suggest that Kim Jong Un is positioning himself within the digital currency landscape, employing strategies that intertwine cyber capabilities with political maneuvering. While the United States promotes its reserve as strategic, North Korea’s approach appears rooted in subterfuge, employing stolen assets to enhance its standing in international affairs.
In conclusion, North Korea’s prominent rise in bitcoin holdings coincides with the United States’ initiative to establish a Strategic Bitcoin Reserve. The country, bolstered by the Lazarus Group’s cyber activities, has transformed its illegal gains into a significant cryptocurrency cache. As nations navigate the complexities of digital assets, the distinct approaches of the U.S. and North Korea highlight the blurred lines between legitimate strategies and covert operations in this evolving financial landscape.
Original Source: news.bitcoin.com
