As of December 6, 2024, Bitcoin ETFs in the United States now hold around 1,104,000 BTC.
That’s more than the estimated 1.1 million Bitcoins held by Satoshi Nakamoto, the mysterious creator of Bitcoin. An ETF is like a box filled with goodies. Instead of candies, it holds investments like Bitcoin. People buy shares of the ETF, giving them a piece of Bitcoin’s action without needing to manage a crypto wallet themselves.
Bigger Than Satoshi, Why Does This Matter?
Satoshi Nakamoto, who invented Bitcoin in 2008, is believed to own around 1.1 million BTC. These coins haven’t moved in years, making them a sort of “untouchable treasure.” But now, U.S. Bitcoin ETFs have surpassed that amount, gathering more Bitcoin than even the creator. That’s a pretty big deal!
This milestone shows how much Bitcoin has grown in popularity and trust. ETFs allow more people—especially those who might be wary of handling Bitcoin directly—to invest in the cryptocurrency. As more investors hop on the Bitcoin bandwagon, the demand could drive its value higher.
Massive buying day from US Spot #Bitcoin ETFs yesterday. Collectively, they now hold more Bitcoin than Satoshi 👀👀👀. Utterly relentless and staggering acquisitions since January @HODL15Capital @EricBalchunas @saylor @BTC_Archive @BitcoinMagazine @BTC_for_Freedom… pic.twitter.com/7uE6h1bOm0
— Shaun Edmondson (@EdmondsonShaun) December 6, 2024
A Rising Star
Over the past few years, BTC ETFs have gained traction, offering an easier and more regulated way for people to invest. The fact that these ETFs now hold more BTC than Satoshi is like passing the baton from the creator to the community. It also highlights how much traditional finance is starting to embrace digital currencies.
KING OF THE HILL: The US spot ETFs have just passed Satoshi in total bitcoin held, now hold more than 1.1m, more than anyone in the world, and they’re not even a year old yet, literally babies still. Mind blowing. h/t @EdmondsonShaun for the data pic.twitter.com/FQBIGGz5ei
— Eric Balchunas (@EricBalchunas) December 6, 2024
Bitcoin’s story is far from over. With ETFs making it more accessible, who knows how much more it could grow? For now, though, it’s safe to say that BTC is no longer just for techies and crypto enthusiasts. It’s becoming a key player in the world of investing.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
