Wall Street owns more Bitcoins than Satoshi Nakamoto

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Last Updated on 9 December 2024 by CryptoTips.eu

Back in January, several companies on Wall Street started offering Bitcoin ETFs (exchange traded funds), in order to allow the boomer generation in the United States to participate in crypto. This is because older investors don’t necessarily trust crypto platforms, but if companies like Vanguard and BlackRock offer them an option to participate then it’s okay. At the end of the year, all those Bitcoin ETFs grew into the largest Bitcoin Whale position. That is very good news, although it also entails risk.

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Million Bitcoins

Legend has it that the first 1.1 million Bitcoins belong to Satoshi Nakamoto, the still anonymous inventor of the largest digital currency in the world. Although his official Bitcoin wallet only holds a few hundred Bitcoins, the correct number is widely believed to be much, much higher. Most analysts estimate it at 1.1 million Bitcoins, as those disappeared in the beginning of the Bitcoin blockchain. Therefor this number is also used in the official ‘Whale’ rankings.

For about a week now there has been one whale who owns more Bitcoins than Satoshi. As we predicted back in August, American ‘boomer’ investors (the generation of people born between 1946 and 1964) have already pumped so much money this year into the Bitcoin ETFs via the various Wall Street companies that offer them, that they are now the biggest ‘Whale’ of them all.

So place one goes to Wall Street, place two to Satoshi.

In 3rd place we find Binance with around 600,000 Bitcoins, followed by MicroStrategy, Michael Saylor’s investment company, and after that come the governments of the United States and China.

Risk

Please note, the fact that those American ‘boomers’ are now the largest Bitcoin Hodlers also entails risk. 2024 has been a fabulous year for crypto, and a continuation of the bull run is also expected in 2025. But what happens to those boomer investors if Bitcoin suddenly (and we have seen this often in the past at the end of bull runs) takes a big step back and trades 30 to even 40% lower from a new top.

Will this new generation of investors be prepared to Hodl at such a moment or will we see a rush to the exit?

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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