Bitcoin’s ownership landscape has shifted, with two institutions—BlackRock and MicroStrategy—now jointly holding more BTC than Bitcoin’s mysterious creator, Satoshi Nakamoto.
BlackRock’s spot ETF manages over 573,000 BTC, and MicroStrategy’s reserves total around 538,000, bringing their combined holdings to more than 1.1 million coins.
In contrast, Satoshi’s estimated stash, based on early mining patterns analyzed in 2013, is believed to be around 1.1 million BTC at most—some researchers even suggest it could be less.
Unlike Satoshi’s untouched, privately held coins, the BTC held by these institutions is tied up in obligations. BlackRock’s coins belong to ETF shareholders, while MicroStrategy’s holdings are part of a debt-laden corporate structure with responsibilities to investors and creditors.
While this rise in institutional accumulation highlights growing mainstream confidence in Bitcoin, it also raises questions about the long-term impact on decentralization.
As more of the supply is absorbed by large players accountable to shareholders and regulators, the balance of influence in the Bitcoin ecosystem continues to evolve—further blurring the line between crypto’s decentralized ideals and traditional finance.
Metaplanet has expanded its Bitcoin treasury with a new acquisition of 1,005 BTC valued at approximately $108.1 million, further cementing its status as one of the largest corporate holders of the digital asset.
Despite common fears that global crises spell disaster for crypto markets, new data from Binance Research suggests the opposite may be true — at least for Bitcoin.
A new report by crypto analytics firm Alphractal reveals that Bitcoin miners are facing some of the lowest profitability levels in over a decade — yet have shown little sign of capitulation.
Bitcoin’s network hashrate has fallen 3.5% since mid-June, marking the sharpest decline in computing power since July 2024.