Boomers will soon have more Bitcoin than Satoshi Nakamoto
Last Updated on 14 August 2024 by CryptoTips.eu
If Bitcoin’s anonymous creator, Satoshi Nakamoto, ever emerges from hiding and were to convert his Bitcoin stash into fiat, he would immediately become one of the richest people on the planet (although that conversion would send the price plummeting).
With his 1.1 million Bitcoins, Satoshi is still the largest Bitcoin Hodler in the world. However, according to calculations, American Boomers will overtake him next year through their Bitcoin ETF investments.
It was the well-known Bloomberg analyst Eric Balchunas who noticed the trend when he showed an overview of the largest Bitcoin hodlers at the moment. In 1st place we indeed find Satoshi Nakamoto with a fortune of 1.1 million Bitcoins, followed by Binance with about half a million Bitcoins.
ETF
But in the meantime, BlackRock (via its Bitcoin ETF called iBit), is already in 3rd place, and a little further down the list we also see Fidelity, which has already purchased 175,000 Bitcoins (with its Bitcoin ETF called FBTC).
Didn’t realize US ETFs are on track to pass Satoshi in bitcoin held in October. BlackRock alone is already #3 and on pace to be #1 late next year, and will likely stay there for a very long time Ht @EdmondsonShaun pic.twitter.com/QGsO00zrxp
— Eric Balchunas (@EricBalchunas) August 12, 2024
If we were to combine all the Bitcoin ETF funds that have been launched since the beginning of this year, those new Hodlers own about 909,000 Bitcoins (which also explains the growth of the Bitcoin price this year).
If that investment trend continues, investors in Bitcoin ETFs will be the largest Bitcoin Hodlers in the ranking as from next year, even larger than Satoshi.
As we know most of those Bitcoin ETF investors are American ‘Boomers’ (people born between 1946 and 1964), it is clear that the ‘older’ generation has now taken over crypto ownership from the younger generation.
