From Investing.com: 2024-05-27 14:00:25

Michael Saylor noted a milestone in the cryptocurrency world as spot Bitcoin ETFs now collectively hold around 1 million BTC, referred to as 1 Nakamoto. This mark was reached over four months after ETF inception, with BlackRock, Fidelity, and ARK Invest among the top holders. MicroStrategy, led by Saylor, holds 214,400 BTC worth $14.66 billion.

The symbolic reference to 1 million BTC as “1 Nakamoto” highlights the increasing institutional adoption of Bitcoin. With major ETFs and companies like MicroStrategy accumulating BTC, the digital asset’s mainstream acceptance is growing. Saylor’s company has seen a profit of $7.12 billion with an average buying price of $35,180 per BTC.

Read more at Investing.com: Michael Saylor Notes Major Bitcoin ETF Milestone By U.Today