Galaxy Research says that Strategy (NASDAQ: $MSTR) could eventually own more Bitcoin (CRYPTO: $BTC) than Satoshi Nakamoto’s estimated 1.1 million holdings.
Satoshi is the pseudonym used by the creator of Bitcoin, and his holdings were previously thought to be unsurpassable.
But Galaxy Research says that at its current pace of accumulation, Strategy could own more Bitcoin than Satoshi within two years.
• Ripple, The Company Behind XRP, Is Valued At $50 Billion
Satoshi’s BTC stash is estimated at around 1.1 million BTC, or roughly 5.5% of the total supply of the cryptocurrency and has remained untouched since 2010.
The forecast from Galaxy comes days after Strategy surpassed BlackRock’s (NYSE: $BLK) iShares Bitcoin Trust ETF (NASDAQ: $IBIT) in terms of its Bitcoin holdings.
BlackRock’s IBIT exchange-traded fund has dominated the U.S. spot Bitcoin ETF market, amassing more than 700,000 BTC in less than 18 months.
But Strategy, led by Chairman Michael Saylor, now owns an estimated 760,000 Bitcoin after adding roughly 80,000 BTC so far this year.
Galaxy Research says that if Strategy’s buying pace remains anywhere near current levels, its stack could cross the one million BTC mark within the next couple of years.
MSTR stock has declined 49% over the past 12 months to trade at $175.26 U.S. per share.