BlackRock has become the second largest holder of Bitcoin, behind only its inventor Satoshi Nakamoto. The asset manager’s fund, iShares Bitcoin Trust (IBIT), now holds over 650,000 BTC, surpassing Michael Saylor’s Strategy.
BlackRock approaches Satoshi Nakamoto as the largest holder of Bitcoin
BlackRock emerges as the second largest holder of Bitcoin (BTC), positioning itself behind only Satoshi Nakamoto, the inventor of the leading crypto.
Specifically, it seems that now, the iShares Bitcoin Trust by BlackRock (IBIT) holds exactly 655,570 BTC, equivalent to over 71 billion dollars. This figure represents 3.122% of the total circulation supply of bitcoin.
As the ranking points out, the other Bitcoin ETFs that debuted in January 2024 are far from the figures of BlackRock’s IBIT. Fidelity’s Bitcoin ETF holds 200 BTC and Grayscale’s ETF holds 187 BTC.
Not only that, none of the Bitcoin ETFs holds at least 1% of the circulation supply of BTC, while IBIT has exceeded 3%.
With these figures, the largest asset manager in the world comes close only to the legendary Satoshi Nakamoto, whose treasury would amount to 1.1 million BTC.
BlackRock behind only Satoshi Nakamoto: the asset manager surpasses Strategy
At this moment, BlackRock is not only behind only Satoshi Nakamoto, but it would have also surpassed the publicly traded company of Michael Saylor, Strategy.
In fact, Strategy seems to hold 580,250 BTC, the equivalent of over 63 billion dollars, which is 2.70% of the total circulation supply of BTC.
In this regard, just yesterday, Saylor allegedly published on X that Strategy has purchased new BTC, despite the prices being at their peak.
Saylor wrote “I buy bitcoin only with money I can’t afford to lose”, a remark that recalls the famous precaution in the investment world, even though here the company is doing quite the opposite. In fact, Strategy continues to borrow huge amounts of dollars to buy Bitcoin even at its peak prices.
At the time of writing, BTC is worth $109,065, coming from a week in which it reached a new ATH – All-Time High (or massimo storico) above $111,000.
With his remarks on X, Saylor just wants to make his theory known, which is leading his company to accumulate as many BTC as possible and turn Strategy into a Bitcoin Treasury Company.
“There are not enough BTC for every millionaire in the USA”
Last March, BlackRock had talked about Bitcoin and its intrinsic value, also discussing the limited supply of BTC.
In this regard, the largest asset manager in the world had said:
“If every millionaire in the USA asked their financial advisor to get them 1 BTC, there wouldn’t be enough”
In practice, BlackRock wants to highlight how the supply of BTC is not sufficient to cover the potential demand from millionaires.
In fact, it is now known that the maximum supply of Bitcoin is 21 million tokens, which will be mined until 2140.