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US spot Bitcoin ETFs now own more Bitcoin than the expected 1.1 million BTC linked to anonymous Bitcoin founder Satoshi Nakamoto.
This is a notable milestone as the total amount of Bitcoin held by spot ETFs in the US reached 1,105,923 BTC.
A New Milestone for Bitcoin ETF
BlackRock’s IBIT ETFs lead the way in assets under management, followed by Grayscale’s GBTC and Fidelity’s FBTC. Collectively, the 12 Bitcoin ETFs in the US have generated more than $33 billion in net inflows since their launch in January.
This week alone, funds saw nearly $2.35 billion in net inflows. Bitcoin’s $100,000 milestone pushed the total assets under management of these ETFs past $109 billion.
Satoshi Nakamoto is believed to have mined around the first 22,000 blocks of Bitcoin, earning 50 BTC per block under the initial subsidy rules, resulting in an estimated 1.1 million BTC. These coins have remained untouched since their creation.
Although Satoshi Nakamoto remains the largest individual owner of Bitcoin, many institutions also have significant stakes in the cryptocurrency. MicroStrategy tops the companies with 402,100 BTC, worth more than $40 billion.
The company, which chose Bitcoin as its official treasury asset in 2020, purchased more than $13 billion in Bitcoin in November. Other companies such as MARA and Worksport have also used a similar BTC accumulation strategy.
Nationally, the United States owns 208,109 BTC worth $21 billion in seized funds, making it the largest holder of Bitcoin, surpassing both China and the UK.
“The US spot ETF just surpassed Satoshi in total Bitcoin holdings, now holding over 1.1 million, more than anyone in the world, and they’re not even a year old, they’re literally babies. child is learning to walk. It’s unbelievable,” said ETF analyst Eric Balchunas write on X (formerly known as Twitter).
Persistent Rumors About Satoshi’s Identity
Speculation about the identity of Satoshi Nakamoto has remained constant throughout 2024. Earlier this year, Australian scientist Craig Wright faced legal scrutiny for his repeated claims that he was the founder of Bitcoin.
However, a British court rejected his evidence and judged that his case had no reasonable prospect of success. A separate controversy occurred after an HBO documentary, Money Electric, was released.
In October, the documentary identified Peter Todd, a Canadian cryptographer, as Satoshi Nakamoto. Todd denies the allegations and is said to have avoided going public due to unwanted attention and threats.
Adding to this, a press conference in London in late October saw a man named Stephen Mollah claiming to be Nakamoto. The case quickly collapsed when Mollah failed to present credible evidence, and technical problems cast doubt on his claims.
Despite persistent theories and public interest, the true identity of Bitcoin’s founder remains a mystery.
General Bitcoin News
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