As noted by Bloomberg analyst Eric Balchunas, the extremely successful Bitcoin exchange-traded fund (ETF) of asset management behemoth BlackRock is now 62% of the way to surpassing Satoshi Nakamoto as the leading holder of Bitcoin in the world.
For now, Satoshi remains the leading holder of the top cryptocurrency with 1,123,500 BTC. This is, of course, just a rough estimate that is derived from pattern-based blockchain analysis.
According to Arkham Intelligence, Satoshi’s total holdings stand at 1.096 million BTC. These tokens are spread across a total of 22,000 long-dorman addresses, according to the firm.
It is possible that some of the keys to these wallets have been lost. Billionaire Mike Novogratz, for instance, believes that Satoshi is no longer alive.
In the meantime, BlackRock is taking the lead among traditional finance firms that are entering the crypto space. Its Bitcoin ETF has emerged as a dominant force in crypto, with its net assets surpassing $75 billion, according to data provided by SoSoValue.
If trends continue, BlackRock could become the largest BTC holder ever in under 12 months.
Strategy (formerly MicroStrategy) comes in third place with 597,325 BTC, which is very close to Binance and not far behind BlackRock.
Finally, Grayscale comes in fifth place with 229,418 BTC. The company is now less relevant in the ETF race after its flagship product recorded massive outflows due to high fees.