What is the amount of Bitcoins (BTC) that North Korea has?

North Korea is making news in the crypto market. After the Bybit Hack, North Korea has been making headlines in the cryptocurrency market. Lazarus, a hacker group backed by the North Korean government and active since years, is a North Korea-based hacker group. However, the $1.4bn attack against Bybit brought this group into the spotlight. This group, which was founded in 2010, has been responsible for several cyber attacks. The cryptocurrency community started investigating the Bitcoin (BTC), which the group held.

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How did North Korea become one of the largest holders of BTCs?

Bitcoin, which was once associated with the Dark Web several years back, has become a major asset over the last decade. The king coin has been a favorite of governments from around the world. North Korea, El Salvador and Bhutan are not far behind. Bhutan holds 10,635 BTC whereas El Salvador has about 6,117 BTC. North Korea is increasingly interested in using Bitcoin to avoid international sanctions, finance its activities and evade financial restrictions.

North Korean cyber-squad now holds 13,562 BTC (or around $1.14 billion) after converting ETH in BTC as a result of the Bybit hack. North Korea now has the third-largest Bitcoin holdings in the entire world. United Kingdom and United States have now taken the top two positions, each with 61.245.

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BTC Price Today

Bitcoin has struggled to make a recovery. Although the Bitcoin asset reached an all-time peak of $109114.88, at the start of this year, it was still trading 23 percent below that high. Bitcoin had a price of $83,237.89 at the moment this was written. It follows a slight rise of 0.32 % over the past day. The BTC market dropped as low as $81,179.99 earlier today.

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