According to a report from Chainalysis, a blockchain analytics company, the US was the biggest winner among Bitcoin investors in 2020. According to estimates by the analysis company, American traders have recovered a lot of money that they invested in decentralized cryptocurrencies in 2020, which are worth $ 4.1 billion.
Bitcoin’s sudden surge in value has made many crypto millionaires.
According to the analyst’s reports, China was the second top winner after the US to benefit from the 2020 Bitcoin boom with a profit of $ 1.1 billion.
Chainalysis is a Manhattan, New York-based company that provides data, software, services, and research to governments, stock exchanges, financial institutions, and insurance and cybersecurity companies in more than 50 countries around the world.
Although it was difficult to do a geographic analysis of cryptocurrency trading because the nature of crypto technology is decentralized, the crypto analytics firm said it was able to make a good estimate in the nationwide cryptocurrency trading report. The company conducted the analysis by measuring the on-chain flows to each cryptocurrency exchange and calculating the total US dollar profits made on Bitcoin after measuring the price differences of the assets at the precise point in time it was deducted from the currency of the crypto platform compared to the time of receipt.
Chainalysis said in one of its research reports, “This analysis gives us a reasonable estimate of the realized profits Bitcoin investors in each country will have made in 2020, even though it does not take into account the profits from assets that have yet to be withdrawn from an exchange . ”
The report said that many countries, such as Vietnam, achieved higher profits than expected and envisioned. Compared to its ranking in the world economy, which is 53, Vietnam ranks 13 in the crypto market. It has also outperformed other countries that are much higher than it in traditional economies such as Australia, Belgium and Saudi Arabia.
Another unexpected thing the report showed was that India, which ranked fifth on traditional economic gauges with @ 2.9 trillion GDP, had crypto investment profits of $ 241 million, ” surprisingly low ”. In a statement to Reuters, the company said, “This may be due to the Indian government’s historical unfriendliness to cryptocurrencies.”
The list of Top 25 Bitcoin Profit Gainers is as follows:
- United States
- United Kingdom
- South Korea
- Czech Republic