$4 Billion Bitcoin (BTC) Profits by America in 2020

$4 Billion Bitcoin(BTC) Profits by America in 2020

Statistics reveal America has made the most profit through Bitcoin (BTC) among the whole world for the year 2020. Taking the year 2020 into consideration, America has made a profit of a whopping $4 billion through BTC. This is more than 4 times the profit made by China.

Americans’ BTC Profits

Statistics and data shootout that Americans have made the most profit through Bitcoin(BTC) in the year 2020. They count the most compared to any other nationalities all over the world. The data was given by chainanalysis, a leading blockchain analyst firm. According to it, Americans in the year 2020 have made an overall of $4 billion profits through BTC. The second to make high profits through BTC for the year 2020 is China. Chinese profits through BTC amount to only $1.1 billion. This is just one-fourth of the profit Americans have made.

The third comes Japan, making a profit of $900 million. Following Japan comes the United Kingdom with $800 million and Russia as fifth with $600 million. 

All this data for the year 2020 was sourced through, BTC transactions, payments, trading transactions, deposits, withdrawals, etc. Crypto Exchanges’ transaction history and web traffic also accounted for the data. Making a conclusive draft upon the profit charts is usually hard when it comes to cryptocurrencies. This is because of their decentralized nature.   

Reasons Behind the Profits

Last year’s surge in Bitcoin price was the highest, surpassing the previous all-time high of $20,000. The overall percentage rise of BTC price in the year 2020 estimated at 224%. Such massive growth inspired all the profits throughout the world. 

Besides, reasons speculated behind Americans making $4 billion profit are the unemployment and jobless situation reforms. The year 2020, besides the Covid-19 crisis, made many jobless throughout the world. Americans were affected due to it adversely. They sought cryptocurrencies and Bitcoins for making money faster. Also, contrary to stock exchange fluctuations, BTC proved to be more stable.  

The future for BTC remains high as investors keep on pondering on it. The gains through BTC are more bankable than other traditional investments. Although, it’s not the same case for all countries. Recent regulations put forth by China upon crypto trade and exchanges have made the future of cryptos quite quivering. 

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A Project Engineer by profession, a writer by passion. Especially into the critics and skeptics on cryptocurrency. His fascination towards the crypto world and his personal experience on it has made him a writer with a taste.