US-Based Bitcoin Holdings Surpass Offshore Counterparts by 65%

A recent analysis by CryptoQuant reveals that Bitcoin reserves held by US-based firms have exceeded those held by offshore counterparts by 65%. The data, which was released on January 6, shows that the ratio of US entities’ BTC treasuries versus tokens owned by non-US institutions has reached 1.65.

Understanding the Ratio

The ratio is calculated by dividing public US BTC reserves by foreign-based holdings, according to CryptoQuant CEO Ki Young Ju. This significant shift in Bitcoin holdings can be attributed to various factors, including the approval of spot BTC exchange-traded funds (ETFs) by the Securities and Exchange Commission.

Impact of Spot BTC ETF Approvals

The approval of spot BTC ETFs has led to a rapid increase in US-based BTC storehouses, with these products accumulating over $110 billion in investor assets within a year. This represents more than 5% of BTC’s market capitalization.

Corporate Adoption of Bitcoin

Companies like MicroStrategy have also contributed to the growth of US-based BTC holdings. Led by BTC maxi Michael Saylor, the company has purchased 258,320 BTC for $22.07 billion in 2024. Saylor’s plans, known as “21/21,” aim to purchase even more of the leading crypto for MicroStrategy.

President Trump’s Shift in Stance

President Donald Trump’s shift from a BTC skeptic to a Bitcoin advocate has further enhanced the asset’s appeal. BTC surged to a new all-time high of $108,135 following Trump’s victory, driven by bullish market sentiment and his commitment to establish a national Bitcoin reserve.

Increased Interest in Crypto

A joint survey by Bitwise Asset Management and analytics firm VettaFi revealed that 96% of wealth advisors reported increased client inquiries about crypto in 2024. The study also noted an 11% rise in cryptocurrency allocations as investors warmed to the emerging asset class.

Key Takeaways

  • US-based BTC holdings have exceeded offshore counterparts by 65%.
  • Spot BTC ETF approvals have led to a rapid increase in US-based BTC storehouses.
  • Corporate adoption of BTC is on the rise, with companies like MicroStrategy leading the way.
  • President Trump’s shift in stance has enhanced the appeal of BTC.
  • Interest in crypto is increasing, with 96% of wealth advisors reporting increased client inquiries.

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