Bitcoin News: Satoshi Nakamoto’s Email to Adam Back Resurfaces After 17 Years

In recent Bitcoin news, an email sent by Satoshi Nakamoto to Adam Back in August 2008 has resurfaced after 17 years.

Notably, the message showed Bitcoin’s early foundation and came as U.S. spot ETFs holding BTC reached 1.25 million coins.

This milestone was led by BlackRock and Fidelity, marking a new stage in the coin’s institutional adoption.

Satoshi Nakamoto Email: A Key Point in Bitcoin History

According to reports, on August 20, 2028, the acclaimed creator of the largest digital asset, Bitcoin, sent an email to Adam Back, the inventor of Hashcash

In the message, Satoshi cited Back’s 2002 paper on HashCash as a key reference for his new project.

He attached a draft of his paper called Electronic Cash Without a Trusted Third Party, which later became known as the Bitcoin Whitepaper.

In the email, Satoshi Nakamoto explained how Bitcoin would work. He described a way to stop double-spending by using a chain of proof-of-work.

Each transaction would be timestamped and added to the chain. The longest chain, backed by the most computer power, would be considered the valid record.

Satoshi noted that digital signatures alone could not prevent fraud if a trusted third party was needed.

Instead, he proposed a peer-to-peer network where nodes could leave and rejoin freely.

Honest nodes controlling most of the CPU power would keep the system secure.

The message marked an important step in the history of Bitcoin. It showed how existing ideas, such as HashCash, were used to build something new.

The resurfacing of the email 17 years later reminded the crypto community how Bitcoin started with a simple exchange between Adam Back and the BTC founder.

Bitcoin News: Institutions Step In as Bitcoin Market Evolves

It is worth noting that while Satoshi’s early work resurfaced, Bitcoin in 2025 looked very different.

Bitcoin has moved beyond an idea among a small community online, and it is now a valuable financial asset among leading institutional investors.

Market analysts suggested that Bitcoin could reach new all-time highs between October and December 2025, per the adoption trend.

Some traders pointed to cycle charts projecting possible peaks between $161,663 and $207,623.

Observers noted that large investors, often called whales, played a big role in short-term moves by buying during low sentiment and selling when demand rose.

Recent Bitcoin news witnessed commentary on social platforms that institutions did not oppose Bitcoin but instead tried to accumulate coins by shaking out smaller holders through fear and uncertainty.

Some market participants believe that this dynamic represents a larger shift in the digital asset ecosystem.

Bitcoin was no longer just a decentralized currency experiment but had become tied to the movements of large funds and corporate players.

The way these groups acted often shaped the market more than retail enthusiasm.

ETFs Reach Highest Bitcoin Holdings on Record

In more Bitcoin news, institutional adoption became clearer with the rise of U.S. spot Bitcoin exchange-traded funds.

On August 17, the combined holdings of these ETFs reached a record 1.25 million BTC.

This was the highest level recorded since their launch and was seen as a strong signal of demand from large investors.

BlackRock’s iShares Bitcoin Trust led the group, holding 748,968 BTC, or 59.9% of all ETF Bitcoin.

Fidelity’s FBTC followed with 199,798 BTC. Together, the two firms controlled more than three-quarters of ETF-held Bitcoin.

Grayscale’s GBTC, once the dominant holder with over 620,000 BTC, had fallen back to 180,576 BTC.

The shift marked the end of an era where one fund led the market, replaced instead by competition between traditional asset managers.

The rise of ETFs showed how Bitcoin had entered mainstream finance. For many investors, ETFs provided exposure without needing to hold coins directly.

For institutions, they offered a regulated structure to accumulate and keep custody of large amounts.