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BlackRock’s IBIT Holds Over 700K BTC as It Closes in on Satoshi’s Total
In a significant milestone for the Bitcoin market, BlackRock’s iShares Bitcoin Trust (IBIT) has surpassed 700,000 Bitcoins in its portfolio, with the possibility of surpassing Satoshi Nakamoto’s estimated stash. This development raises concerns over decentralization and governance, challenging the core ethos of the cryptocurrency.
According to recent data, IBIT holds a staggering 700,439 Bitcoins, valued at approximately $75.5 billion following a massive inflow of $164.6 million on July 7. As the fund continues to grow at an astonishing rate, it is projected to reach an incredible 1.2 million Bitcoins by May 2026 if its current pace remains consistent.
Moreover, combined US spot ETFs now hold over 1.25 million Bitcoins, surpassing Satoshi’s estimated stash of 1.1 million Bitcoins. This trend poses a serious question regarding whether a decentralized asset can genuinely remain free in the face of centralization. The shift towards institutional ownership is altering the narrative surrounding who truly controls Bitcoin.
The trustless and transparent nature of the network remains intact, but its financial foundation is gradually being solidified by the substantial interests of conventional finance institutions.
Source: cryptotale.org
