The US spot Bitcoin ETFs have collectively acquired 1 million BTC, achieved quicker than anticipated due to substantial acquisitions by BlackRock. This rapid pace suggests that ETF holdings could exceed Satoshi Nakamoto's within a fortnight.
This milestone sparks concerns about potential centralization, conflicting with Bitcoin's decentralized origins. The rapid accumulation by ETFs like BlackRock, which reached a six-month trading volume high, signals a significant shift in Bitcoin ownership dynamics.
Analysts acknowledge the substantial market impact as ETF inflows exceed projections, attributing this to explosive buying sprees. Bitcoin ETFs are nearing Satoshi Nakamoto’s 1.1 million BTC, propelling concerns about centralization within the crypto community.
The market's response is underscored by projections of sustained acquisitions, potentially altering Bitcoin’s decentralized nature. The community is cautioned against an impending supply shock, posing challenges for private individuals to access Bitcoin.
This development coincides with the 16th anniversary of the Bitcoin whitepaper, highlighting the substantial evolution from Bitcoin's inception to its current embrace by traditional finance.
