U.S. Institutions Hold Overwhelming Amount of Bitcoin, 65% More Than Overseas

Image=CryptoQuant Capture

As Donald Trump, the president-elect, has promised to make the United States a hub for Bitcoin (BTC), it has been revealed that U.S. institutions hold an overwhelmingly higher amount of Bitcoin compared to foreign companies.

On the 9th, the cryptocurrency-focused media outlet The Block reported, citing CryptoQuant data, that the proportion of Bitcoin held by U.S. companies is 65% higher than that held by foreign companies.

This data represents an indicator of the ratio of Bitcoin held by the United States compared to other countries. As of January 9th, this indicator recorded 1.65, meaning the U.S. holds 65% more Bitcoin than other countries.

Meanwhile, this indicator began to surge last year, seemingly underpinned by Bitcoin Spot Exchange-Traded Funds (ETFs). In fact, since the trading of Bitcoin Spot ETFs began on January 11th last year, a total of $36.5 billion has flowed into 11 Bitcoin Spot ETFs.