The Lazarus Group, a hacker organization backed by North Korea, now holds more Bitcoin than Tesla, according to Arkham Intelligence data.
The group has accumulated 13,441 BTC, valued at approximately $1.14 billion, which surpasses Tesla’s holdings of 11,509 BTC by 16%.
This milestone highlights the growing role of illicit entities in the crypto space, as Lazarus Group is infamous for its involvement in numerous cyberattacks, including a recent breach targeting crypto exchange Bybit, which saw the theft of $1.4 billion in Ethereum.
The stolen funds were later converted into Bitcoin, with over 12,800 BTC spread across thousands of wallets.
The news of the Lazarus Group surpassing Tesla’s Bitcoin holdings is significant, especially as former U.S. President Donald Trump advocates for the U.S. to take the lead in crypto adoption. Trump has expressed a desire to position the country as the “undisputed Bitcoin superpower,” while also introducing plans to integrate Bitcoin into the country’s strategic reserves.
In contrast, the U.S. government now controls 198,109 BTC worth more than $16 billion, seized through law enforcement actions. As the geopolitical and corporate landscape evolves, it remains uncertain how major players like Tesla will respond to such developments, especially as they compete for dominance in the growing cryptocurrency market.
Bitcoin giant Strategy has added another 4,980 BTC to its reserves in a purchase worth approximately $531.9 million, according to Executive Chairman Michael Saylor.
According to renowned market veteran Peter Brandt, trading isn’t the path to prosperity for the vast majority of people.
Charles Edwards, founder and CEO of Capriole Investments, has offered a fresh perspective on Bitcoin’s stalled price movement near the $100,000 mark, despite growing institutional enthusiasm.
Metaplanet has expanded its Bitcoin treasury with a new acquisition of 1,005 BTC valued at approximately $108.1 million, further cementing its status as one of the largest corporate holders of the digital asset.