BlackRock Could Surpass Satoshi Nakamoto’s 1.1M BTC Holdings by Next Summer: Analyst

Highlights:

• BlackRock holds over 636K BTC, becoming the second-largest holder after Satoshi Nakamoto. 
• Analyst predicts BlackRock could surpass Satoshi’s 1.1 million Bitcoin by next summer if the price keeps rising.
• Positive funding rates and institutional adoption boost confidence in the BTC price rally.

U.S.-based investment firm BlackRock is now the second-largest Bitcoin (BTC) holder, second only to Bitcoin’s mysterious creator, Satoshi Nakamoto. According to Bloomberg analyst Eric Balchunas, BlackRock now holds over 636,000 Bitcoins, about 57% of Satoshi’s 1,123,500 BTC. He predicted that BlackRock might surpass Nakamoto’s BTC holdings by next summer. And if Bitcoin’s price jumps to $150,000, it could happen even sooner.

BlackRock second only to Satoshi in total btc held, now 57% of the way to there to becoming world's biggest, prob by end of next Summer- altho if btc hits $150k in next few months, poss we see a feeding frenzy from advisors, which would shorten the timeline dramatically. https://t.co/Nd6jhkxoQH pic.twitter.com/6bxG2H79Qy

— Eric Balchunas (@EricBalchunas) May 20, 2025

BlackRock’s spot Bitcoin ETF, called IBIT, has grown quickly, and this rapid growth has caught the attention of many big financial institutions. BlackRock’s IBIT has been leading the ETF market, with $287.5 million in new investments just on Tuesday. Since it started in January last year, it has brought in over $46 billion. Following massive Bitcoin ETF inflows, the company has overtaken Binance to claim the second spot. 

 Balchunas wrote:

“And yes this list can be debated given the role of custodians like coinbase, we get it, the bigger point worth being made here is JUST HOW FAST BLACKROCK IS PAC-MAN-ING UP THE BTC, or rather their investors are as their holdings represent millions of ppl”.

BlackRock’s Bitcoin ETF saw inflows in 24 of the last 25 days. It led all ETFs in recent inflows. Thomas Fahrer’s data shows IBIT gained 2,705 BTC worth $287.5 million. That’s 10 times more than Fidelity’s FBTC, which had $23 million in inflows.

🚨 BLACKROCK BUYS 2705 BITCOIN

NOW HOLD 639,000 BITCOIN 🔥 pic.twitter.com/LJ72WeEFqi

— Thomas Fahrer (@thomas_fahrer) May 21, 2025

Major holders of IBIT shares include big names like Goldman Sachs. Recently, $1 trillion asset manager Blackstone disclosed that it owned 23,094 shares of the BlackRock Bitcoin ETF as of March 31.

Signs Point to Ongoing BTC Rally

Multiple indicators point to a possible Bitcoin rally, aligning with Balchunas’ forecast. In May, the Bitcoin funding rate flipped positive, showing renewed optimism. Data from CoinGlass reveals a surge in demand for long positions. After dipping below zero in April, the rate has bounced back, reflecting growing interest as BTC crossed the $100,000 mark.

Crypto analyst Benjamin Cowen shared his thoughts on Bitcoin’s recent trend. He expects a golden cross—where the 50-day moving average crosses above the 200-day—to occur in the coming days. While the move signals upward momentum, Cowen stressed the importance of looking at historical patterns for better insight.

#Bitcon golden cross should occur in a few days. Will probably make a video soon discussing this and looking back at historical moves following it pic.twitter.com/qRqIweAopD

— Benjamin Cowen (@intocryptoverse) May 20, 2025

Swissblock’s on-chain data shows no signs of a bearish double-top forming. Their BFI index has stayed neutral even during previous market dips. This supports the current bullish sentiment and aligns with the positive funding rate seen today.

A lot of noise about a potential double top as $BTC struggles to break ATH.

🔹But the BFI tells a different story: no signs of bearish divergence.
🔹If this were a real double top, BFI would be breaking down.
🔹Even during the Feb–Mar pullback, it held neutral, never dipped into… pic.twitter.com/pKli16OgPs

— Swissblock (@swissblock__) May 20, 2025

Bitcoin’s price is staying strong, rising another 1.34% today and going over $106,000. Experts say that if this momentum keeps up, Bitcoin could reach new all-time highs by this weekend.

Institutions and ETFs Drive Bitcoin’s Growth

Institutional adoption and ETFs are shaping Bitcoin’s future, with Fidelity and Grayscale holding 199,831 and 231,646 BTC. U.S. spot Bitcoin ETFs now hold around 1,188,186 BTC. Moreover, the United States government and platforms like Binance, Upbit, and Bitfinex hold large Bitcoin reserves, but none are set to surpass BlackRock if its ETF growth continues.