According to a report by blockchain analysis firm Chainalysis, the realized income of Americans investing in bitcoin in 2020 is estimated to be $4.1 billion, ranking first in the world.
Kim Grauer, director of research at Chainalysis, said: "We know from past research that investment by institutional investors in cryptocurrency assets is growing, especially in the United States. Institutional investors deal with large amounts of cryptocurrencies and have been hoarding bitcoins over the past year. "
In addition, "the rise in the US occurs mainly at the end of the year, so we suspect that many institutional traders who meet this characteristic will profit when prices rise at the end of 2020."
"We estimate that the rise at the end of 2020 prompted many investors to make exit plans to achieve gains earlier in the year," Grauer said. "
Chainalysis roughly calculates global bitcoin earnings in 2020 by measuring the flow of money on chains to different cryptocurrency exchanges and then measuring the difference between the dollar price when the bitcoin was withdrawn from the platform and the price it received when it was received. "then we distribute these gains (or losses) by country according to each country's share of network traffic on each exchange website, and this analysis gives us a reasonable estimate. That is, the realized gains made by bitcoin investors in each country in 2020, although it does not take into account the gains on assets that have not yet been withdrawn from the exchange."