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'1 Nakamoto of BTC': Michael Saylor Notes Major Bitcoin ETF Milestone

Published 05/27/2024, 10:21 PM
Updated 05/28/2024, 01:45 AM
© Reuters.  \'1 Nakamoto of BTC\': Michael Saylor Notes Major Bitcoin ETF Milestone

U.Today - Michael Saylor, the head of MicroStrategy and a well-known advocate for Bitcoin, recently highlighted a significant milestone in the cryptocurrency world. According to Saylor, spot Bitcoin ETFs now collectively hold approximately 1 Nakamoto of Bitcoin, a symbolic reference to 1 million BTC.

This milestone was reached just over four months after the inception of Bitcoin ETFs on Jan. 10 this year. Thus, more than four months later, the volume of accumulated Bitcoin issuers has exceeded the 1 million BTC mark. It is that mark that Saylor referred to as 1 Nakamoto.

The fact is that, according to unconfirmed data, Satoshi Nakamoto, the mysterious creator of Bitcoin, holds more than 1 million BTC in thousands of his wallets. However, there is no more precise data, but this symbolic mark was enough for Saylor to call it 1 Nakamoto.

The top three Bitcoin holders among ETF issuers were BlackRock with 287,168 BTC, Fidelity with 161,538 BTC and ARK Invest with 48,503 BTC.

As for Saylor and MicroStrategy itself, the company now has 214,400 BTC worth $14.66 billion on its balance sheet, according to the latest data. The average buying price is $35,180, which brings the profit of Saylor and MicroStrategy to 94.43%, or $7.12 billion.

This milestone of reaching "1 Nakamoto" underscores the growing influence of Bitcoin ETFs and the increasing institutional adoption of the main cryptocurrency. As Bitcoin continues to gain mainstream acceptance, the accumulation of BTC by ETFs and major companies like MicroStrategy signals an interesting future for the digital asset.

This content was originally published on U.Today

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