As the US prepares to launch the Strategic Bitcoin Reserve by Executive Order of President Donald Trump, North Korea has quietly become the third largest Bitcoin-holding government, surpassing crypto-friendly countries like El Salvador.
At this point, North Korea has become one of the largest BTC holders thanks to the activities of the Lazarus Group, a state-affiliated hacker group.
According to Arkham data, Lazarus currently has 13,562 BTC worth $1.14 billion, making them a national piggy bank for cybercrime.
This increase in the amount of BTC came after the Lazarus Group carried out a major cyber heist on February 21 by stealing more than $1.4 billion worth of Ethereum (ETH) from Bybit.
Much of the money, initially Ethereum, was later converted to Bitcoin, bringing North Korea's assets to 13,562 BTC, worth over $1.14 billion.
While North Korea has been quietly accumulating Bitcoin through illegal means, the US is taking a legal approach. President Trump officially launched the Strategic Bitcoin Reserve by signing an Executive Order on March 6.
This puts the US as the country with the largest Bitcoin holdings with 198,109 BTC worth $16.71 billion.
According to Arkham data, the United States ranks first with 198,109 BTC, followed by the United Kingdom with 61,245 BTC.
North Korea ranks third, followed by Bhutan and El Salvador with 10,635 BTC and 6,117 BTC respectively.
*This is not investment advice.
