With the recent emergence of Satoshi Nakamoto's email to Adam Back from 2008, Bitcoin has reached a new level in institutional investments, with ETF holdings hitting records.
Satoshi Nakamoto's Email: A Key Point in Bitcoin History
On August 20, 2008, Satoshi Nakamoto, the creator of Bitcoin, sent an email to Adam Back, the inventor of Hashcash. In this message, Satoshi referenced Back’s 2002 paper on HashCash as a key source for his new project. He attached a draft of his paper called 'Electronic Cash Without a Trusted Third Party,' which later became known as the Bitcoin Whitepaper. In the email, Satoshi explained how Bitcoin would work, describing a way to stop double-spending through a chain of proof-of-work. Each transaction would be timestamped and added to the chain. The longest chain, backed by the most computer power, would be considered the valid record.
Institutional Investments in Bitcoin
By 2025, Bitcoin became a significant financial asset among leading institutional investors. Market analysts suggested that Bitcoin could reach new all-time highs between October and December 2025. Some traders pointed to cycle charts projecting possible peaks between $161,663 and $207,623. Observers noted that large investors, often termed 'whales,' played a key role in short-term movements by buying during low sentiment and selling when demand rose.
Record Bitcoin Holdings in ETFs
Recent Bitcoin news showed that institutional adoption became clearer with the rise of U.S. spot Bitcoin exchange-traded funds. On August 17, the combined holdings of these ETFs reached a record 1.25 million BTC. The BlackRock’s iShares Bitcoin Trust led the group, holding 748,968 BTC, or 59.9% of all ETF Bitcoin. Fidelity’s FBTC followed with 199,798 BTC. Together, these two firms controlled more than three-quarters of ETF-held Bitcoin.
The resurfacing of Satoshi Nakamoto’s email reminds the crypto community of the beginnings of Bitcoin, when it was just a concept. Now, Bitcoin has integrated as a financial asset within a broader market, drawing the interest of institutional investors.
