Chainalysis Report: U.S. Investors’ Realized Bitcoin Gains for 2020 Stood At $4 Billion
The last year of 2020 was the year that changed the tide for crypto investors. Right from hitting rock bottom in March 2020 to surging to new highs by December, investors saw the best of the bust and boom cycles. The latest report released by blockchain analysis firm Chainalysis shows that U.S. investors seemingly dominated the crypto market in 2020. The U.S. investors collectively made over $4 billion in realized gains in 2020 which was 3x than China that stood second. While the estimated Bitcoin gains for 2020 for U.S. investors stand at $4.1 billion, that of China stood at just $1.1 billion. As the Chainalysis report explains: “This may seem surprising considering that China historically has by far the highest raw cryptocurrency transaction volume, but as we‘ve covered previously, U.S.-focused exchanges saw huge inflows in 2020 that appear to have been realized toward the end of the year, which likely accounts for the country’s large gains”. Courtesy: Chainalysis High Bitcoin Adoption in Low GDP Countries Another interesting fact shared by Chainalysis is that there have been many countries wherein the BTC adoption has been significantly high when measured against their GDP. Vietnam, the country that ranks 53rd with a GDP of $262 billion stands