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Interest in Bitcoin and other cryptocurrencies has grown across the world over the past couple of months, but how much are investors really making from the digital currency boom? A geographic analysis of cryptocurrency is difficult due to the decentralized nature of the technology, and it is impossible to locate the parties involved in individual transactions with absolute certainty. Software company Chainalysis was able to provide a decent estimate, however, as it tracks services involving Bitcoin transaction data. U.S. investors made around $ 4 billion from Bitcoin last year, a figure three times the number next on the list, China.
Chainalysis says this is surprising as China has historically boasted the highest gross volume of cryptocurrency transactions by far. The United States likely surpassed the $ 1.1 billion Chinese investors made in 2020 following huge influxes that took place late last year, resulting in massive gains. Chainalysis also notes that several countries appear to exceed their weight, especially when compared to their ranking in more conventional economic measures. Vietnam, the Czech Republic, and Turkey are all examples that were among the top 25 countries with the highest Bitcoin investment gains.
When it comes to investment gains made over time, almost all countries saw their largest increases occur towards the end of 2020 due to a significant increase in the price of Bitcoin between mid-October and the end of 2020. mid-December. During this period, the price of the cryptocurrency has risen from $ 11,471 to just over $ 29,000. It was a lucrative time for US investors in particular, who made most of their earnings from the Coinbase business. Investing in Bitcoin is a risky business, and its price hit an all-time high of nearly $ 65,000 in April of this year before dropping below $ 36,500 in May. Currently, Bitcoin is trading at just under $ 37,000, according to CoinMarketCap.
* Click below to enlarge (represented by Statista)
Estimated dollar gains from Bitcoin by country in 2020
Statistical
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