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BlackRock’s iShares Bitcoin Trust ETF (IBIT) could soon become the largest Bitcoin holder, potentially overtaking the pseudonymous creator Satoshi Nakamoto by next summer, according to Bloomberg ETF analyst Eric Balchunas. The ETF, managed by the world’s leading asset manager, currently holds 636,108 BTC—a number growing rapidly with institutional inflows.
Satoshi Nakamoto, widely believed to have mined around 1.12 million BTC in Bitcoin’s early days, has remained inactive since disappearing from the public eye. This estimate, based on researcher Sergio Demian Lerner’s 2013 analysis of mining patterns—known as the "Patoshi pattern"—is still widely accepted. Despite occasional blockchain activity from the early addresses, the coins linked to Satoshi have never been moved, leading experts to believe they are permanently dormant.
Balchunas suggests that IBIT could reach or surpass Satoshi’s holdings much faster if Bitcoin’s price crosses the $150,000 mark. A surge to this level may prompt a significant wave of institutional investment, particularly from financial advisors, accelerating the ETF’s accumulation.
While this rapid institutional adoption may appear to contradict Bitcoin’s original libertarian ideals, it signals increasing legitimacy and long-term strength for the cryptocurrency. Balchunas emphasizes that mainstream investment products like IBIT contribute to Bitcoin’s durability in global markets.
As the ETF continues attracting record-breaking inflows, the possibility of BlackRock becoming the largest Bitcoin holder highlights the shifting dynamics of digital asset ownership—from early anonymous miners to regulated financial giants. This transition reflects both the growing maturity of the crypto industry and the changing narrative surrounding Bitcoin’s role in the global financial system.
With IBIT gaining momentum, the battle for the top spot in Bitcoin holdings is no longer just symbolic—it’s a sign of where the future of digital finance is heading.
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