North Korea’s Surprising Rise as a Bitcoin Holder Amid U.S. SBR Plans

North Korea has become the third-largest government holder of Bitcoin, leveraging illicit gains via cybercriminal activities, particularly through the Lazarus Group. This rise coincides with the U.S. preparing its Strategic Bitcoin Reserve, highlighting the complexities of cryptocurrencies in global politics.

As the United States prepares to unveil its Strategic Bitcoin Reserve (SBR), prompted by an Executive Order from President Trump, North Korea has stealthily ascended to become one of the top three global holders of Bitcoin (BTC). This development arises amidst allegations that a hacking syndicate connected to the North Korean government is diverting its illicit earnings into Bitcoin, effectively transforming digital theft into a covert national savings account.

In summary, North Korea’s surreptitious rise to become a major Bitcoin holder contrasts sharply with the impending U.S. Strategic Bitcoin Reserve’s launch. The actions of the Lazarus Group have enabled this ascent, allowing North Korea to utilize cybercrime strategically. This scenario raises significant questions about the interplay of national interests, cybersecurity, and the use of cryptocurrency as a tool for geopolitical power.

Original Source: news.bitcoin.com