Michael Saylor, the CEO of MicroStrategy and a prominent proponent of Bitcoin, recently drew attention to a significant milestone in the cryptocurrency realm. Saylor noted that spot Bitcoin Exchange-Traded Funds (ETFs) now collectively hold approximately 1 Nakamoto of Bitcoin, symbolically referencing 1 million BTC.
This milestone was achieved just over four months following the launch of Bitcoin ETFs on January 10 this year. In a span of slightly over four months, the combined holdings of Bitcoin ETF issuers surpassed the 1 million BTC threshold, a benchmark Saylor equated to 1 Nakamoto.
While precise data remains unconfirmed, it’s widely speculated that Satoshi Nakamoto, the enigmatic creator of Bitcoin, possesses over 1 million BTC across numerous wallets. Despite the lack of concrete figures, Saylor deemed this symbolic threshold significant enough to warrant the “1 Nakamoto” label.
The top three holders of Bitcoin among ETF issuers include BlackRock (NYSE: BLK) with 287,168 BTC, Fidelity with 161,538 BTC, and ARK Invest with 48,503 BTC.
In the case of Saylor and MicroStrategy, the company presently boasts 214,400 BTC valued at $14.66 billion on its balance sheet, according to the latest reports. With an average purchase price of $35,180, Saylor and MicroStrategy have accrued a profit of 94.43%, totaling $7.12 billion.
The achievement of reaching “1 Nakamoto” underscores the burgeoning influence of Bitcoin ETFs and the escalating institutional adoption of the leading cryptocurrency. As Bitcoin continues its trajectory towards mainstream acceptance, the accumulation of BTC by ETFs and major corporations such as MicroStrategy portends an intriguing future for the digital asset.
