Significant Shift in Cryptocurrency Ownership
In the evolving landscape of cryptocurrency ownership among nation-states, a significant shift has just occurred. North Korea’s notorious Lazarus Group, which has long held a staggering reserve of Bitcoin, recently divested a considerable portion of its holdings.
Lazarus Group’s Bitcoin Liquidation
Two weeks ago, the group possessed 7,813 BTC, equivalent to approximately $856 million at the time. However, an assessment reveals that they have liquidated around 1,938 BTC, causing a loss exceeding $212 million in value.
El Salvador Rises in Rankings
As a result of this reduction, El Salvador has seized the opportunity to rise to the fourth position among sovereign Bitcoin holders, now commanding a total of 6,188 BTC, currently valued at about $678.55 million. This development pushes North Korea’s Lazarus Group down to fifth place, currently holding 5,875 BTC worth $645 million after their recent sell-off since May 12.
Leading the Bitcoin Ownership Rankings
- United States: 198,012 BTC (~$21.72 billion)
- United Kingdom: 61,245 BTC (~$6.72 billion)
- Bhutan: 11,879 BTC (~$1.3 billion)
Meanwhile, Bhutan, which was previously just behind the U.K. with 12,062 BTC, still retains the third position despite a decrease in its holdings to 11,879 BTC, valued at roughly $1.3 billion, following a sale of 183 BTC.
Lazarus Group’s Other Holdings
In addition to Bitcoin, the Lazarus Group possesses other cryptocurrencies, including $7.84 million in Tether (USDT) and approximately $7.61 million in Ethereum (ETH), comprising 2,972 ether. The precise fate of their dispersed Bitcoin remains uncertain, as it has been carefully broken into smaller amounts and transferred to a multitude of newly created wallet addresses.
Monitoring Blockchain Transactions
Observers of the blockchain are closely monitoring these transactions, as historical patterns suggest that fragments of the stolen cryptocurrency may lay dormant for a significant period before any future actions are taken.
