Comment
Author: Admin | 2025-04-28
Computers - often owned by large Bitcoin mining companies - act like high-tech accountants checking and securing the record of Bitcoin transactions. In return for the work, the computers are automatically rewarded with Bitcoins. Over time, the amount of coins given out as part of the mining reward is automatically reduced and in April it will halve again, squeezing the supply of new coins further. There are still about 7% of coins yet to be mined, and it is estimated that the last Bitcoin will be created in 2140. Satoshi Nakamoto, Bitcoin inventorThe anonymous creator of Bitcoin holds an estimated 1.1 million bitcoins in wallets that were the first to be created in 2009. None of the coins have been moved in years, and no-one knows who Satoshi is - or even if he/ she/ they are still alive. If they are still alive - and estimates are correct - then this would make Satoshi Nakamoto roughly the 22nd richest person in the world. This stash is about 5% of all bitcoins.Regulated investment firmsIn January, US financial authorities allowed regulated investment firms to start selling new financial products linked to Bitcoin, called Spot Bitcoin ETFs. In mid-February, the investment giants that applied to start ETFs began buying bitcoins in their thousands, as everything from hedge funds to stock market traders purchased ETFs to bet on the price of Bitcoin, without having to own any coins themselves. According to K33 Research, 933,000 coins had already been allocated or purchased by 29 February, and are currently being held by the institutions for these new financial products. K33 analysts think that the biggest holder is Grayscale, which started as a digital currency investment firm. It is estimated to have around 450,000 bitcoins. Other giants include BlackRock (150,000) and Fidelity (102,000). Most crypto-fans online
Add Comment