{"id":269327,"date":"2021-06-08T17:18:03","date_gmt":"2021-06-08T14:18:03","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/americans-pocketed-4b-in-bitcoin-profits-in-2020-analysis-reveals\/"},"modified":"2021-06-08T17:18:03","modified_gmt":"2021-06-08T14:18:03","slug":"americans-pocketed-4b-in-bitcoin-profits-in-2020-analysis-reveals","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/americans-pocketed-4b-in-bitcoin-profits-in-2020-analysis-reveals\/","title":{"rendered":"#Americans pocketed $4B in bitcoin profits in 2020, analysis reveals"},"content":{"rendered":"

“#Americans pocketed $4B in bitcoin profits in 2020, analysis reveals<\/strong>”<\/p>\n

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Americans got richer off bitcoin than any other country last year \u2014 pocketing $4.1 billion in profits as the price of the volatile cryptocurrency soared to $29,000 from under $10,000, according to a new analysis.\u00a0<\/p>\n

The US was followed by China, which cashed out some $1.1 billion in profits in 2020, according to data published Monday<\/a> by blockchain firm Chainalysis.\u00a0<\/p>\n

Japan came in third with $900 million, followed by the United Kingdom with $800 million and Russia with $600 million<\/p>\n

The figures only cover realized gains, meaning that profits still held in cryptocurrencies or in exchange accounts are not included.\u00a0<\/p>\n

According to Chainalysis, Americans app<\/a>ear to have stepped up their bitcoin investments last year, despite nationwide lockdown orders and record unemployment. US crypto investors then cashed out toward the end of the year when the price of bitcoin has soared more than three times its $9,000 price tag.\u00a0<\/p>\n

\"A
Bitcoin was hovering at about $33,000 Tuesday morning after declining 10 percent in just one week, according to Coindesk data.\u00a0<\/figcaption>
Coindesk<\/span><\/figcaption><\/figure>\n

\u201cUS-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\u2019s large gains,\u201d the analysts wrote.<\/p>\n

But many people who sold bitcoin in late 2020 probably wish they had held on for longer. Bitcoin continued its eye-watering bull run through April of 2020, peaking at $63,000 \u2014 more than double 2020\u2019s high point.\u00a0<\/p>\n

The cryptocurrency has slumped back near 2020 levels in recent months \u2014 hovering at about $33,000 Tuesday morning after declining 10 percent in just one week, according to Coindesk data.\u00a0<\/p>\n

\"A
Chainalysis produced its estimate by collecting data including deposits, withdrawals and web traffic from cryptocurrency exchanges like Coinbase.<\/figcaption>
EPA<\/span><\/figcaption><\/figure>\n

While cryptocurrency profits can be hard to track due to the currencies\u2019 intentionally decentralized nature, Chainalysis produced its estimate by collecting data including deposits, withdrawals and web traffic from cryptocurrency exchanges like Coinbase.<\/p>\n

Last year, other countries that realized large gains from bitcoin include Germany and France with roughly $600 million each and Spain with $500 million. South Korea, Ukraine, the Netherlands, Canada and Vietnam all booked about $400 million in profits each.\u00a0<\/p>\n

Bitcoin\u2019s 2021 woes have been attributed to a number of factors, including the US government\u2019s ability to recover the bitcoin ransom from last month\u2019s Colonial Pipeline hack. That has been cited as evidence that the cryptocurrency is more traceable than previously thought, potentially decreasing its value to certain investors.\u00a0<\/p>\n

\"Art
The US was followed by China with $1.1 billion, Japan with $900 million, the United Kingdom with $800 million and Russia with $600 million<\/figcaption>
REUTERS<\/span><\/figcaption><\/figure>\n

The cryptocurrency market, which was once dominated by bitcoin, has also been complicated in 2021 by the rise of NFTs and heightened interest in alternative digital coins like Ethereum.\u00a0<\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Americans pocketed $4B in bitcoin profits in 2020, analysis reveals” Americans got richer off bitcoin than any other country last year \u2014 pocketing $4.1 billion in profits as the price of the volatile cryptocurrency soared to $29,000 from under $10,000, according to a new analysis.\u00a0 The US was followed by China, which cashed out some…<\/p>\n","protected":false},"author":1,"featured_media":269328,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/06\/bitcoin-27.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[74956,95118,108651,91267,76127],"class_list":["post-269327","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-coinbase","tag-nft","tag-6-8-21","tag-bitcoins","tag-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/269327","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=269327"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/269327\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/269328"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=269327"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=269327"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=269327"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}