According to the blockchain analysis platform CryptoQuant, the proportion of Bitcoin reserves held by US entities is currently 65% higher than that held by non-US entities. Ki Young Ju, the CEO of CryptoQuant, stated that this ratio is calculated by dividing the known Bitcoin holdings of US entities (including MicroStrategy, exchange-traded funds, exchanges, miners, and the government) by the known Bitcoin holdings of non-US entities.
The data shows that this ratio has increased from 1.24 in September 2024 to 1.66 on December 16th. As of January 6th, the ratio stood at 1.65. For most of 2023, when the price of Bitcoin was below $30,000, the data showed that non-US entities held more Bitcoin than US entities.
Source: Ki Young Ju
In the past three months, Donald Trump, who supports cryptocurrencies, emerged victorious in the US presidential election and pledged to establish a national strategic reserve of Bitcoin. This has brought positive sentiment to the entire market, pushing Bitcoin above $100,000, and Bitcoin spot ETFs have seen significant trading volumes and inflows of funds.
MicroStrategy, the world’s largest holder of Bitcoin, has been continuously increasing its Bitcoin holdings, leading to a “Bitcoin corporate reserve wave.” Several US-listed companies have started buying Bitcoin, and some companies from other countries, such as the Japanese listed company Metaplanet, have followed suit.
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