Global Bitcoin Ownership: The US Takes the Lead

In the ever-evolving landscape of cryptocurrency, the United States has emerged as a frontrunner in Bitcoin ownership. Recent on-chain studies reveal that the US holds approximately 40% of the world’s Bitcoin, equating to nearly 8 million BTC out of the existing 20 million in circulation. This substantial figure has sparked discussions about the implications of Bitcoin scarcity and its valuation.

Unpacking the Numbers: The US’s Bitcoin Wealth

Fred Krueger’s analysis suggests that if Bitcoin were valued at $120,000 per BTC, the American Bitcoin reserve would be valued at an astounding $936 billion. Moreover, US Bitcoin ETFs experienced a notable net inflow of $6 billion in July, marking it as the third most successful month for these financial products. The only months surpassing July were February and November 2024.

Global Distribution of Bitcoin

While the US leads the pack, other nations are also significant players in the Bitcoin ecosystem. India follows with 1 million BTC, representing 5% of the global supply, valued at approximately $120 billion at current rates. Europe trails with 900,000 BTC, equivalent to 4.6% of the total, valued at $108 billion.

China’s government controls around 194,000 BTC, primarily obtained through seizures, amounting to $23.3 billion. Both Latin America and the rest of Asia collectively manage 400,000 BTC each, making up 2% of the global supply, each valued at $48 billion. Africa and other regions hold a combined total of 300,000 BTC, representing 1.5% of the total supply.

Corporate Influence in Bitcoin Holdings

Within the United States, major corporations are pivotal in the Bitcoin market. MicroStrategy leads with a hefty 628,791 BTC in its portfolio. Other significant players include Marathon Digital Holdings with 50,000 BTC, XXI Capital with 43,514 BTC, and Bitcoin Standard Treasury Company with 30,021 BTC. Additionally, Riot Platforms holds 19,225 BTC, and Trump Media & Technology Group Corp. owns 18,430 BTC. These companies span various industries from mining to financial services, indicating diverse corporate interest.

Emerging Markets: India and Europe

Despite regulatory uncertainties, India continues to demonstrate significant growth in cryptocurrency adoption, primarily driven by retail investors. The sheer number of individuals investing in Bitcoin places India ahead of Europe in terms of crypto engagement.

Europe’s Steady Growth

In Europe, a combination of retail and institutional investors fuels the cryptocurrency market. Although this growth is more gradual compared to India’s nearly 100% compound annual growth rate (CAGR) from 2018 to 2023, it still significantly surpasses the growth rate of traditional payment systems, which stands at around 8%.

National Reserves and Smaller Players

Bitbo’s recent chart provides insights into national-level reserves, highlighting over 200,000 BTC linked to both the US and China. The UK ranks third with 61,000 BTC, while Ukraine follows with 46,000 BTC. Additionally, smaller nations like Bhutan, El Salvador, and Finland hold between 5,000 and 10,000 BTC each.