Michael Saylor, CEO of MicroStrategy and a prominent figure in the Bitcoin community, celebrated a major achievement in the cryptocurrency space. Saylor noted that spot Bitcoin ETFs have accumulated around 1 million BTC, which he affectionately referred to as ‘1 Nakamoto’.
This milestone underscores the growing institutional interest and investment in Bitcoin through these exchange-traded funds.
Bitcoin ETFs Accumulate 1 Million BTC, Dubbed ‘1 Nakamoto’ Milestone
In just over four months since their launch on January 10 this year, Bitcoin exchange-traded funds (ETFs) have collectively amassed over 1 million BTC. This achievement, referred to by Michael Saylor as ‘1 Nakamoto’, highlights the rapid accumulation of Bitcoin by institutional investors through these ETFs.
The term ‘1 Nakamoto’ is symbolic, drawing comparison to Satoshi Nakamoto, the mysterious creator of Bitcoin, who is rumored to hold more than 1 million BTC spread across various wallets, although exact figures remain unconfirmed.
32 #Bitcoin Spot ETFs now hold ~1 Nakamoto of $BTC pic.twitter.com/OpHridlymc
— Michael Saylor⚡️ (@saylor) May 27, 2024
Among the top holders of Bitcoin among ETF issuers, BlackRock leads with 287,168 BTC, followed by Fidelity with 161,538 BTC, and ARK Invest with 48,503 BTC. These holdings underscore the significant institutional interest and investment in Bitcoin facilitated by ETFs.
Bitcoin ETFs and Institutional Adoption Signal Milestone for Cryptocurrency
Michael Saylor’s MicroStrategy has solidified its position in the cryptocurrency market with a substantial holding of 214,400 BTC, valued at $14.66 billion based on recent data. With an average purchase price of $35,180, Saylor and MicroStrategy have accrued a profit of 94.43%, amounting to $7.12 billion.
The recent achievement of “1 Nakamoto” by Bitcoin ETFs underscores their increasing influence and the growing institutional adoption of Bitcoin. This milestone highlights the significant role ETFs play in accumulating BTC, alongside major companies like MicroStrategy, which are embracing Bitcoin as a strategic asset.
As Bitcoin gains broader acceptance in mainstream finance, the accumulation of BTC by ETFs and prominent entities like MicroStrategy suggests a promising trajectory for the digital asset in the financial landscape.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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