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Michael Saylor notes major milestone for Bitcoin ETF
Gamza Khanzadaev
Michael Saylor, CEO of MicroStrategy, announced that spot Bitcoin ETFs now collectively hold 1 million BTC, a milestone he calls “1 Nakamoto”
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Michael Saylor, head of MicroStrategy and a well-known Bitcoin advocate, recently highlighted a significant milestone in the world of cryptocurrencies. According to Saylor, spot Bitcoin ETFs now collectively hold approximately 1 Nakamoto of Bitcoin, a symbolic reference to 1 million BTC.
This milestone was reached just over four months after the start of Bitcoin ETFs on January 10 this year. Therefore, more than four months later, the accumulated volume of Bitcoin issuers has surpassed the 1 million BTC mark. It’s that brand that Saylor referred to as 1 Nakamoto.
The fact is that, according to unconfirmed data, Satoshi Nakamoto, the mysterious creator of Bitcoin, holds more than 1 million BTC in thousands of its wallets. However, there are no more precise data, but this symbolic sign was enough for Saylor to call it 1 Nakamoto.
The top three Bitcoin holders among ETF issuers were BlackRock with 287,168 BTC, Fidelity with 161,538 BTC, and ARK Invest with 48,503 BTC.
As for Saylor and MicroStrategy According to the latest data, the company now has 214,400 BTC worth $14.66 billion on its balance sheet. The average purchase price is $35,180, which brings Saylor and MicroStrategy’s profit to 94.43%, or $7.12 billion.
This milestone of reaching “1 Nakamoto” highlights the growing influence of Bitcoin ETFs and the growing institutional adoption of the leading cryptocurrency. As Bitcoin continues to gain mainstream acceptance, the accumulation of Bitcoin from ETFs and large companies like MicroStrategy signals an interesting future for the digital asset.
About the author
Gamza Khanzadaev
Financial analyst, trader and cryptocurrency enthusiast.
Gamza graduated in Finance and Credit with a specialization in securities and financial derivatives. He then obtained a master’s degree in banking and asset management.
He wants to help cover economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.