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- Satoshi to Lose Status as Biggest Bitcoin Holder This Year
Satoshi to Lose Status as Biggest Bitcoin Holder This Year
Satoshi Nakamoto, Bitcoin's mysterious creator, is expected to lose his title as the largest Bitcoin holder by the end of this year due to the rising dominance of U.S.-based Bitcoin exchange-traded funds (ETFs).
Joe G & Money Talks
August 13, 2024 • Estimated Reading Time: 6 minutes
What we will talk about today...
Satoshi to Lose Status as Biggest Bitcoin Holder This Year
Mixed Fortunes for U.S. Ethereum ETFs: BlackRock and Fidelity Lead Amid Market Shifts
Mark Cuban's Advice: Invest 10% in High-Risk Ventures, But Be Ready to Lose It
Satoshi Nakamoto, Bitcoin's mysterious creator, is expected to lose his title as the largest Bitcoin holder by the end of this year due to the rising dominance of U.S.-based Bitcoin exchange-traded funds (ETFs).
As a rough rule of thumb, macro Bitcoin trends are often lagged behind gold by a few months. Looks promising.
— Charles Edwards (@caprioleio)
10:31 PM • Aug 12, 2024
Main Points:
Satoshi Nakamoto's Position: Likely to lose the largest Bitcoin holder status.
Bitcoin ETFs Growth: U.S.-based ETFs now hold 909,000 Bitcoins combined.
BlackRock's Influence: BlackRock's IBIT fund holds 347,767 Bitcoins, ranking third globally.
Potential Market Impact: Satoshi's dormant fortune poses a potential risk to Bitcoin's stability.
Detailed Insights:
Satoshi Nakamoto's Position: Expected to be surpassed by Bitcoin ETFs, ending his reign as the top Bitcoin holder.
Bitcoin ETFs Growth: Combined holdings of 909,000 Bitcoins, with more inflows expected this year.
BlackRock's Influence: On pace to become the largest Bitcoin holder by late next year.
Potential Market Impact: Satoshi’s dormant Bitcoins have not moved in a decade, but if liquidated, they could destabilize the market.
Debate on Satoshi's Holdings: Some doubt he owns 1.1 million coins; BitMEX suggests up to 700,000.
Bitcoin and Gold are now the top performing major assets in 2024. Going back to 2011, we've never seen these two in the #1/#2 spots for any calendar year.
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9:56 PM • Aug 3, 2024
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Mixed Fortunes for U.S. Ethereum ETFs: BlackRock and Fidelity Lead Amid Market Shifts
U.S. spot Ethereum ETFs have experienced varied outcomes 20 days after launch, with significant gains for BlackRock and Fidelity, while overall net inflows dipped by $405.94 million.
Interesting chart from @qthomp showing Gold's price action post ETF launch (top) and Bitcoin's (bottom)
Gold had roughly 10-12 months of consolidation before marking up post-launch. If BTC follows, confluence with other factors pointing towards favorable performance into 2025
— Will (@WClementeIII)
1:10 PM • Aug 12, 2024
Main Points:
BlackRock's ETHA Gains: Approaching $1 billion in net inflows.
Fidelity's FETH Success: Gained $341.7 million since launch.
Grayscale's ETHE Losses: Contributed to overall net inflows decline.
Bitwise's ETHW Performance: Secured $299.66 million, ranking third among ETFs.
Detailed Insights:
BlackRock's ETHA Gains: ETHA is close to the $1 billion milestone, leading the ETF market.
Fidelity's FETH Success: FETH has accumulated $341.7 million, showing strong market traction.
Grayscale's ETHE Losses: Significant outflows from ETHE dampen the overall performance of U.S. Ethereum ETFs.
Bitwise's ETHW Performance: ETHW ranks third, with gains of $299.66 million since inception.
Combined ETF Holdings: The nine ETFs collectively hold $7.28 billion in ether reserves, representing 2.34% of Ethereum's market value.
₿itcoin reached $58,859. +0.21%
♢Ethereum reached $2,625. -0.10%
Billionaire Mark Cuban advises allocating up to 10% of savings to high-risk investments, including Bitcoin but stresses the importance of treating it as money that’s already lost.
Main Points:
10% in High-Risk Investments: Cuban suggests investing a small portion of savings in risky assets.
"Hail Mary" Mentality: View high-risk investments, like Bitcoin, as already gone.
Comparison to Collectibles: High-risk assets are like art or baseball cards—value depends on buyer interest.
Diversification: Other high-risk options include startups, risky stocks, real estate crowdfunding, and venture capital.
Detailed Insights:
10% in High-Risk Investments: Cuban advises up to 10% of savings in high-risk investments, such as Bitcoin or Ethereum.
"Hail Mary" Mentality: Treat these investments as if the money is already lost, minimizing financial stress.
Comparison to Collectibles: Like collectibles, high-risk investments are speculative, and driven by market demand.
Diversification: Consider other high-risk options like startups, micro-cap stocks, or venture capital funds.
Financial Stability: Cuban’s approach ensures the remaining 90% of your savings is secure and risk-free.
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This article is not financial advice. Market conditions can change rapidly, and past performance does not guarantee future results