3h ago
ETFs and MicroStrategy Holdings Top Satoshi Estimate as Bitcoin Slides Below $62,000
CryptoQuant CEO Ki Young Ju said Bitcoin held by spot ETFs plus MicroStrategy now exceeds Satoshi Nakamoto's estimated stack, even as BTC fell below $62,000. He cited MicroStrategy's net removal of 711,174 BTC since January 2023 and noted ETFs absorbed 509,102 BTC near $63,000 in March 2024, alongside 650,706 BTC added by MicroStrategy. Ju argued the return to similar price levels despite those flows points to unusually strong sell pressure, with an average investor cost basis around $53,000.