They own more Bitcoin than Satoshi Nakamoto - page 2.

Doan9269

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Quote from: bigmanik on December 06, 2024, 02:04:16 PM

Well, few hours ago, I came across a post online
Apparently, US Bitcoin ETFs now own more Bitcoin than Satoshi Nakamoto
This firm was actually recently launched, I think, in January
They are not even a year old
And although the amount of coin they have more than Satoshi is actually much, it is still very surprising
I actually do commend them for this
Now, this brings me to a very important question
Do you think Satoshi is still alive?
And if he is, do you think he will be happy about this ?

To start with, bitcoin spot ETFs is not a single holder and are not directly bitcoin investors, some of them that constitute the said name are investors of bitcoin and other shares and centralized bonds.

While on the other side, from the image post, there is need for more clarifications here, US government is not a holder likewise i don't see Chinese government as one, Binance is an exchange and we could see how the investors in their large numbers secures their assets with them and these funds are not directly theirs.

Churchillvv

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Quote from: Wiwo on December 06, 2024, 02:26:06 PM

Santoshi Bitcoin is privately owned and individual, unlike the Bitcoin ETFs holdings belongs to a group of companies and individuals

So from what you're saying here Satoshi an individual, I'm not convinced that Satoshi in his/their anonymous state is an individual.

OP, of course the said ETFs are not a single entity but several entities and holdings of individuals including and it has been long awaited for some people to take part in this investment hence the quantity of bitcoin they hold is not a surprise to me.

Wiwo

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Santoshi Bitcoin is privately owned and individual, unlike the Bitcoin ETFs holdings belongs to a group of companies and individuals, so we can't compare the amount of tge Bitcoin holdings innthe ETFs accounts to that if Satoshi to avoid getting ourselves confused, and as a matter of fact, everything that Satoshi anticipated and expected for Bitcoin is right now happening so anyone in his shie will be happy wuth the current happenings.

Bitcoin is gaining mainstream attention and adoptions which is what all of us look forward to for a very long time now, let say we all are excited and Bitcoin ETF is one of the reasons for the current wave of the Bitcoin market value seeing Bitcoin above $100k is something that none of us expected at this period in time.

d5000

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"The US ETFs" are several entities. On the other hand, it's not sure if Satoshi really owns >1 million coins, although Sergio Demian Lerner has found a lot of evidence it's not completely clear.

The biggest single owner is iShares (BlackRock) with 500.000 BTC, which is a lot but far away from Satoshi's alleged fortune. But there are two catches:

1) the ETFs do not "own" the Bitcoins legally, it's their customers,
2) the ETFs are not even custodians, that's Coinbase in most of the cases.

How much Bitcoins has Coinbase under its custody? I've found a figure from September and it's actually 2,7 million Bitcoins it seems!

Yes, I don't think Satoshi would be happy about this, if he's the idealistic guy many think he is. But one never knows. Some think he's a state-sponsored actor. He could however also be some of the guys who founded one of the big Bitcoin service providers ...

PS: The largest single owner (i.e. those who have legal ownership of their coins) is currently MicroStrategy with 400k. However, this is less than Grayscale had at its heyday (600k) and it wasn't a spot ETF at this time so they had still legal ownership.

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Quote from: bigmanik on December 06, 2024, 02:04:16 PM

Apparently, US Bitcoin ETFs now own more Bitcoin than Satoshi Nakamoto
This firm was actually recently launched, I think, in January

Do not get it wrong. Satoshi did not mine the coins for many years. Also January of this year is a long period of time and not recently. This is also not worth comparing. It is like comparing the coins that some people are having to the coins that Satoshi mined. Also know that this was just an estimate because nobody knows the exact amount of coins mined by Satoshi.

bigmanik

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Well, few hours ago, I came across a post online
Apparently, US Bitcoin ETFs now own more Bitcoin than Satoshi Nakamoto
This firm was actually recently launched, I think, in January
They are not even a year old
And although the amount of coin they have more than Satoshi is actually much, it is still very surprising
I actually do commend them for this
Now, this brings me to a very important question
Do you think Satoshi is still alive?
And if he is, do you think he will be happy about this ?

Topic: They own more Bitcoin than Satoshi Nakamoto - page 2. (Read 198 times)