Bitcoin Above $122K: Who Holds the Most Bitcoins in Mid-2025?

Complete review: Exchanges, Bitcoin Treasury Companies, Financial Giants via their Bitcoin Spot ETFs, Governments, Individuals.

Bitcoin has broken through the $120K mark. The (provisional) ATH now stands at around $122.5K. Don't dwell too much on this figure, as it will likely be beaten again in the coming hours, given Bitcoin's strong bullish momentum at the moment. This is the result of several weeks of sideways movement combined with the various factors I have mentioned to you several times in recent weeks.

With Bitcoin at this level in weak money, some are now wondering who owns the most Bitcoins at the moment. To help you see more clearly, here is a quick overview of the largest Bitcoin holders in different categories: Exchanges, Bitcoin Treasury Companies, financial giants via their Bitcoin Spot ETFs, Governments, and Individuals.