The Bitcoin network’s most powerful yet silent forces are its largest cold wallets. According to on-chain data as of June 20, 2025, the ten richest Bitcoin addresses collectively hold approximately 1.1 million BTC, accounting for 5.55% of the current circulating supply of 19.88 million BTC. These addresses belong to a mix of exchange reserves, hacked funds, and government-seized assets, revealing the quiet custodians behind the world’s largest cryptocurrency.
Ranking Shuffle: Robinhood Climbs to Second, Bitfinex Drops to Third
Compared to 2023, the top ten list has undergone notable changes. Binance’s primary cold wallet, which held 248,598 BTC, remains static — its last outgoing transaction occurred on January 7, 2023. The second position, once held by Bitfinex, is now occupied by Robinhood, which holds 140,575 BTC and has seen no outbound activity since January 8, 2025. Bitfinex’s address (130,010 BTC) fell to third place, shedding about 9,000 BTC over the past 30 days. Binance’s second cold wallet (115,032 BTC) ranks fourth, having decreased by 19,249 BTC in the same period. The Bitfinex hack recovery wallet sits fifth with 94,643 BTC.
Notable ‘Problem’ Wallets and a Stablecoin Giant
The sixth-largest address is the infamous Mt. Gox hacker wallet “1Feex,” containing 79,957 BTC. Seventh place belongs to Tether’s treasury wallet, holding 78,647 BTC. The eighth slot is an anonymous wallet (78,317 BTC) — the only unidentified holder among the top ten. Ninth is the U.S. Federal Bureau of Investigation’s wallet, holding 69,370 BTC seized from the Silk Road hacker. Rounding out the list is another Binance cold wallet (68,200 BTC), which serves as the BTCB reserve for its wrapped Bitcoin project.
The Power of Silence: Cold Wallet Activity Reveals Long-Term Strategy
Overall, the top ten addresses display a pattern of “static dominance with minor adjustments.” Most wallets have seen no outgoing transactions for extended periods, while a few have actively reduced holdings. This low activity suggests these wallets are not used for everyday trading but represent institutional hoarding, collateral, or regulatory reserves. As Bitcoin’s total supply approaches 20 million, the behavior of these cold wallets offers critical insight into market sentiment and long-term positioning among major players.