Despite recent price surges, Bitcoin and the broader crypto market have struggled in recent days
As of January 9, these US players now control 65% more Bitcoin than those outside the country, showing a clear shift in where Bitcoin is stored.
Over the past few months, the balance of Bitcoin ownership has tipped strongly in favor of the US. In September 2024, US holdings were only 24% higher than offshore holdings. By December, this gap had reportedly grown to 66% and remains at 65% today.
These stats show a fascinating fact: US companies, investment funds, and government reserves are outpacing international counterparts. This mirrors the growing mainstream acceptance of Bitcoin as a financial tool.
Part of the reason is Bitcoin’s recent price surge. Bitcoin has recorded an impressive price movement in recent months. As of September 2024, BTC traded around the $60k region. At that time, most of the reserves were held outside the US.
However, with BTC crossing the $100k mark, US institutions have increased their interest in the cryptocurrency. Some of the notable names holding BTC include MicroStrategy and US crypto exchanges.
MicroStrategy, in particular, has significantly influenced the Bitcoin trend in the US. The software provider company has steadily increased its BTC holdings in recent months. MicroStrategy, the biggest corporate Bitcoin holder, has played a big role in this trend. The company has a total BTC holding of 447,470 BTC, worth around $28 billion.
US-listed Bitcoin ETFs have also been game-changers. Launched in early 2024, these funds make it easier for regular investors and big institutions to gain exposure to Bitcoin. So far, they’ve attracted $106.8 billion in investments.
Despite recent price surges, Bitcoin and the broader crypto market have struggled in recent days. BTC currently trades at $95,062.74. Most altcoins have seen major drops in prices. Furthermore, fears of tighter Federal Reserve policies have led investors to pull back from riskier assets like BTC. Interestingly. Some experts expect cryptocurrencies to fluctuate in price in the coming days.
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
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🔥 MicroStrategy added nearly 200,000 $BTC to its holdings in Q4 2024, surpassing other public companies, including miners. According to CryptoQuant, private and government entities in the U.S. now control 65% more Bitcoin than all similar organizations abroad combined.
