North Korea Becomes a Top Bitcoin Holder After Lazarus Group Hacks Bybit Exchange
North Korea has quietly risen in the ranks to become one of the largest state holders of Bitcoin, surpassing nations like El Salvador and Bhutan.
The Rapid Rise of North Korea in the Bitcoin World
North Korea has managed to amass a staggering 13,562 bitcoins, worth over $1.14 billion. This astonishing increase follows a massive theft of crypto-assets carried out by the Lazarus group, a state-backed North Korean hacker syndicate.
This revelation comes as the United States has announced the creation of its own strategic reserve of BTC, positioning Washington as the largest governmental holder of BTC with nearly 200,000 bitcoins. This raises questions about Pyongyang’s motives. The city seems to be playing its own game in the geopolitical landscape of digital assets.
A Crypto Strategy with Cold War Undertones
Unlike traditional reserves in gold or currencies, Bitcoin offers a way to store wealth outside the controlled international financial system. For North Korea, this represents a significant advantage as sanctions have long deprived it of access to global banking networks. By accumulating BTC, Pyongyang is building an asset usable for international transactions without relying on the dollar.
While the U.S. presents its reserve as a financial strategy, North Korea’s accumulation of Bitcoin seems to be a silent power move, blurring the lines between cybercrime and state politics. This marks a new phase in the geopolitical struggle, where digital assets play a key role in economic and strategic dominance.
North Korea’s decision to massively accumulate Bitcoin has greatly concerned the crypto sphere. Many see it as a political maneuver aimed at exerting pressure on the U.S. government.
Gaston Cuny
Gaston has been a writer for over 7 years and a passionate cryptocurrency enthusiast since 2020. He loves exploring the crypto ecosystem and is now dedicated to sharing his insights and discoveries through InvestX.
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This article is for informational purposes only and should not be considered as investment advice. Some of the partners featured on this site may not be regulated in your country. It is your responsibility to verify the compliance of these services with local regulations before using them.
DISCLAIMER
This article is for informational purposes only and should not be considered as investment advice. Trading cryptocurrencies involves risks, and it is important not to invest more than you can afford to lose.
InvestX is not responsible for the quality of the products or services presented on this page and cannot be held liable, directly or indirectly, for any damage or loss caused by the use of any product or service featured in this article. Investments in crypto assets are inherently risky; readers should conduct their own research before taking any action and invest only within their financial means. This article does not constitute investment advice.
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