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BlackRock’s IBIT Holds Over 700K BTC as It Closes in on Satoshi’s Total
In a stunning turn of events, it has been revealed that BlackRock’s iShares Bitcoin Trust (IBIT) now holds over 700,439 Bitcoins, valued at approximately $75.5 billion. This development marks a significant milestone for the ETF, which saw an influx of $164.6 million in a single day.
According to Bloomberg ETF analyst Eric Balchunas, IBIT has been acquiring 40,000 BTC monthly, equivalent to approximately 1,300 new Bitcoins daily. If this pace continues, it is projected that the ETF could surpass Satoshi Nakamoto’s estimated stash of 1.1 million Bitcoins by May 2026.
As IBIT grows at an incredible rate, concerns have been raised regarding the centralization and concentration of Bitcoin ownership within a few regulated custodians. While the decentralized network remains trustless and transparent, the financial foundation is gradually being solidified by the significant interests of conventional finance institutions.
It is worth noting that all US spot ETFs combined now hold over 1.25 million Bitcoins, effectively surpassing Satoshi’s dormant stash since 2011.
Source: cryptotale.org
