BlackRock's iShares Bitcoin Trust ETF, the world's largest asset manager, is on track to surpass Satoshi Nakamoto as the leading Bitcoin holder by next summer.
Bitcoin Holder Statistics
Currently, BlackRock's Bitcoin ETF holds 636,108 bitcoins. In comparison to Satoshi Nakamoto's estimated holdings of 1.12 million coins, it appears that BlackRock is poised to become the largest holder soon. Researcher Sergio Demian Lerner estimated in 2013 that the mysterious Bitcoin creator mined over a million tokens.
Potential Bitcoin Price Growth
Bloomberg analyst Eric Balchunas notes that a possible rise in Bitcoin's price above the $150,000 mark could lead many financial advisors to recommend IBIT. This would significantly shorten the timeline for BlackRock to take the leading position among Bitcoin holders.
The Power of Institutional Adoption
Even though this type of institutional adoption complicates the libertarian narrative of Bitcoin, Balchunas believes it will positively impact its longevity. The bitcoins linked to Satoshi remain untouched, and Balchunas is certain that they are unlikely to be moved in the future.
Thus, BlackRock's iShares Bitcoin Trust ETF may soon take the leading position among Bitcoin holders, prompting significant changes in the cryptocurrency landscape.
