Key Takeaways
- US Bitcoin ETFs now hold over 1.1 million BTC, surpassing Satoshi’s holdings.
- ETF holdings exceed Binance by 42% and MicroStrategy by 63%.
- Mike Novogratz speculates Satoshi Nakamoto may no longer be alive.
U.S. spot Bitcoin exchange-traded funds (ETFs) have collectively amassed more Bitcoin than the estimated holdings of Satoshi Nakamoto, the pseudonymous Bitcoin creator. As of December 5, these ETFs held approximately 1,103,965 BTC, surpassing Nakamoto’s estimated 1.1 million BTC, according to Bloomberg ETF analyst Eric Balchunas.
Balchunas remarked on X:
The US spot ETFs have just passed Satoshi in total Bitcoin held. They’re not even a year old yet, literally babies still. Mind-blowing.
This milestone follows the January 2024 debut of spot Bitcoin ETFs, marking a transformative year for Bitcoin investments.
Holdings compared to other entities
Data from HODL15Capital reveals that U.S. Bitcoin ETFs now hold 42% more Bitcoin than Binance, the world’s largest crypto exchange, and 63% more than MicroStrategy, a leading corporate BTC holder.
Bitcoin ETFs’ rapid growth underscores the increasing institutional adoption of Bitcoin, with their combined holdings now representing over 5.2% of Bitcoin’s total 21 million supply.
Debate over Nakamoto’s legacy
Mike Novogratz, CEO of Galaxy Digital, which operates a spot Bitcoin ETF, speculated that Satoshi Nakamoto is likely no longer alive.
Novogratz, referring to Bitcoin surpassing $100,000 for the first time, said during a December 5 CNBC interview:
If Satoshi was alive…I’m sure that he’d have a big smile on his face.
Despite remaining anonymous, Nakamoto’s influence continues to loom large as Bitcoin’s adoption grows.
