U.S. investors earned $ 4.1 billion from Bitcoin in 2020, three times more than Chinese
July 6, 2021 (Investorideas.com Newswire) The year 2020 has been a fantastic year for crypto investors who have made impressive profits by investing in the world’s largest cryptocurrency, Bitcoin.
According to data presented by BlockArabia.com, U.S. crypto investors have gotten the most out of Bitcoin, with profits reaching $ 4.1 billion in 2020, three times higher than the next country on the list, China.
US Bitcoin Gains Higher Than China, UK, and Japan Combined
The past six months have been quite dynamic for the global crypto market, illustrated by the fact that Bitcoin hit an all-time high of nearly $ 65,000 in April before falling below $ 37,000 in May. It is currently trading around $ 34,000, according to CoinMarketCap.
However, last year was another story. Virtually all countries recorded their biggest investment gains towards the end of 2020, as the price of Bitcoin rose from $ 11,471 in mid-October to just over $ 29,000 by the end of the year. ‘year. It was a lucrative time for U.S. investors, who made the majority of their earnings from Coinbase activity.
Behind the United States as the top country in terms of Bitcoin revenue, China ranks second with $ 1.1 billion in investment gains, Chainalysis data revealed. This is surprising because China recorded the highest gross cryptocurrency transaction in history.
The United States likely surpassed China’s $ 1.1 billion due to massive inflows towards the end of 2020 which generated remarkable gains.
Japanese crypto investors ranked third on this list with $ 0.9 billion in Bitcoin profits last year. The UK, Russia and France followed with $ 0.8 billion and $ 0.6 billion, respectively.
Statistics also showed that US Bitcoin revenue was 46% higher than China, UK and Japan combined.
Bitcoin’s market cap has risen 20% since January
Data from CoinMarketCap showed that the world’s largest digital currency managed to increase its market capitalization from January’s figures, despite the recent crypto price crash.
The price of Bitcoin has risen by more than 100% in five months of 2021, helping its market capitalization reach $ 1.1 billion in early May. However, at the end of last month, the flagship cryptocurrency fell to over three months, dropping to around $ 30,000 at one point.
The unexpected pullback of Bitcoin and other cryptocurrencies came in the form of a wave of negative headlines and catalysts, from Tesla CEO Elon Musk to a new round of Chinese government regulations, sparking a blow to the whole sector.
Statistics show that the Bitcoin market was worth around $ 650 billion last week, a 20% increase since the start of the year.
The full story can be read here: https://blockarabia.com/pr/us-investors-earned-4-1b-from-bitcoin-in-2020-three-times-more-than-chinese/
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