Is BlackRock Beating Satoshi Nakamoto? An Analysis on Its Holdings
2025-05-21
Satoshi Nakamoto has long stood as a legendary figure, not only for inventing Bitcoin but also for being the largest individual holder of it. However, a new giant is on the rise. BlackRock, the world’s largest asset management firm, is now closer than ever to catching up.
With over 636,000 Bitcoin under its belt through its ETF product, BlackRock is currently the second-largest holder of Bitcoin worldwide. That raises a serious question: could BlackRock actually surpass Satoshi Nakamoto?
BlackRock’s Rapid Climb in Bitcoin Holdings
BlackRock’s involvement in Bitcoin is largely driven by its spot Bitcoin ETF, known as IBIT, which has seen significant inflows since its launch.
As of now, BlackRock holds 636,108 BTC, an amount that represents about 57 percent of the estimated 1,123,500 BTC believed to be held by Satoshi Nakamoto.
This number places BlackRock ahead of other major Bitcoin holders like Binance, MicroStrategy, and Grayscale.
According to Bloomberg ETF analyst Eric Balchunas, if the current trend continues, BlackRock could overtake Satoshi Nakamoto by the summer of 2026, possibly sooner if Bitcoin’s price sees a sharp rise.
The Role of Bitcoin ETFs in Accelerating Growth
BlackRock’s success has sparked interest across the financial sector, especially among institutional investors.
The introduction of regulated spot Bitcoin ETFs has made it easier for traditional investors to gain Bitcoin exposure. In the U.S. alone, spot ETFs now hold a combined total of approximately 1.18 million BTC.
BlackRock’s IBIT has led this pack, attracting a significant share of these assets. As the price of Bitcoin climbs closer to $100,000 and possibly beyond, investor demand for ETF-based exposure could surge.
Balchunas noted that if Bitcoin (BTC) reaches $150,000, there could be a "feeding frenzy" among financial advisors, rapidly increasing ETF inflows and further boosting BlackRock’s holdings.
What Market Indicators Are Saying
Several market indicators are currently signaling strength for Bitcoin. The Bitcoin Funding Rate, which measures the cost of holding long positions in perpetual futures contracts, turned positive again in May. This indicates rising demand and bullish sentiment among traders.
Analysts like Benjamin Cowen have also highlighted the approaching golden cross, a bullish signal that occurs when the 50-day moving average crosses above the 200-day moving average.
On-chain analytics firm Swissblock adds that no signs of a bearish reversal are visible, further supporting the possibility of a continued uptrend.
Read more about Bitcoin (BTC):
Bitcoin Price (BTC), Market Cap, Price Today & Chart History
BTC to USD: Convert Bitcoin to US Dollar
Institutional Momentum Is Changing the Landscape
BlackRock is not alone in bringing Bitcoin to traditional finance. Fidelity holds nearly 200,000 BTC, while Grayscale manages more than 230,000 BTC through its Grayscale Bitcoin Trust.
JPMorgan, despite skepticism from CEO Jamie Dimon, has started offering Bitcoin exposure to its clients due to increasing demand.
This shows a clear trend: institutional players are not only entering the Bitcoin space but are also adapting their strategies to include it as part of their investment offerings.
BlackRock's involvement is part of a larger wave of institutional adoption that is fundamentally shifting the landscape of Bitcoin ownership.
Could BlackRock Really Surpass Satoshi Nakamoto?
Satoshi Nakamoto’s Bitcoin holdings, untouched since the early days of the network, have always been seen as untouchable. However, Bitcoin’s capped supply of 21 million coins makes every acquisition more meaningful.
With ETFs absorbing a large part of newly available Bitcoin and retail investors competing with institutional buyers, BlackRock’s trajectory is becoming more notable.
If BlackRock maintains its current pace of accumulation and market demand continues to grow, it is entirely possible for the asset manager to become the largest Bitcoin holder in the world—surpassing the pseudonymous creator who started it all.
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Frequently Asked Questions (FAQ)
Q: Does BlackRock have Bitcoin?
A: Yes, BlackRock has been buying over $100 million worth of Bitcoin daily since their Bitcoin ETF started, which shows how much big financial institutions are adopting Bitcoin.
Q: Is BlackRock buying Ethereum?
A: Yes, BlackRock recently bought $8.65 million worth of Ethereum, taking advantage of a market price drop.
Q: Who owns most Bitcoin?
A: Satoshi Nakamoto, the creator of Bitcoin, is believed to own the most, holding around 1.09 million coins. Large individual holders are called "Bitcoin whales."
Q: Who is the CEO of BlackRock?
A: Larry Fink is the Chairman and Chief Executive Officer of BlackRock.
Disclaimer: The content of this article does not constitute financial or investment advice.
