North Korea has become the third largest holder of bitcoin globally, largely due to its hacking group, the Lazarus Group. This rise coincides with the U.S. launching its Strategic Bitcoin Reserve under President Trump’s Executive Order, creating a notable contrast between state-operated and clandestine crypto strategies. The U.S. leads with 198,109 BTC, the U.K. follows with 61,245 BTC, while North Korea surpasses Bhutan and El Salvador in bitcoin holdings.
As the United States prepares to establish a Strategic Bitcoin Reserve (SBR), inspired by President Trump’s Executive Order, North Korea has surreptitiously ascended to become one of the top three global bitcoin holders. This rise is attributed to illicit activities conducted by a hacking syndicate believed to be affiliated with the North Korean government, which has been converting thefts into substantial bitcoin reserves.
North Korea’s position as the third largest government bitcoin holder can be largely credited to the Lazarus Group, a state-associated hacking organization. In a remarkable operation on February 21, 2025, the group executed a significant theft at Bybit, acquiring over $1.4 billion in cryptocurrency, predominantly ethereum, before converting a portion into bitcoin. Reports indicate that the group currently possesses 13,562 BTC, valued at approximately $1.14 billion, effectively transforming proceeds from cybercrime into state assets.
Interestingly, North Korea’s bitcoin accumulation commenced prior to discussions about the U.S. Strategic Bitcoin Reserve. However, the buildup coincided with President Trump’s announcement regarding the SBR. His signing of the Executive Order on March 6, 2025, has added geopolitical complexity to the situation. As per Arkham Intelligence, the U.S. has amassed 198,109 BTC, equivalent to a staggering $16.71 billion, thus making it the largest governmental bitcoin holder.
The United Kingdom ranks second with 61,245 BTC, valued at approximately $5.17 billion. While the U.K. has not indicated plans for its own SBR, it has accrued these assets through criminal confiscations, securing a significant position in the realm of digital currency. North Korea’s bitcoin holdings place it immediately behind the United Kingdom but ahead of Bhutan with 10,635 BTC ($897.60 million) and El Salvador with 6,117 BTC ($516.11 million).
The timing of North Korea’s ascent in the cryptocurrency arena—aligned with the U.S. revealing its Strategic Bitcoin Reserve—raises intriguing questions. Is Kim Jong Un positioning himself to partake in the digital currency surge, intertwining technological prowess with diplomatic maneuvering? While the U.S. presents its reserve as part of a strategic initiative, North Korea appears to operate within a more clandestine framework, converting stolen assets into a form of silent leverage.
In conclusion, North Korea’s rise to成为 the third largest holder of bitcoin highlights a complex interplay between criminal activity and state-level strategy amidst global economic shifts. With the U.S. moving towards establishing its Strategic Bitcoin Reserve and North Korea leveraging cyber theft, the dynamics of digital currency ownership are characterized by competing motives of policy and illicit gain.
Original Source: news.bitcoin.com
