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crypto.news 2025-01-09 17:50:16

US-based Bitcoin reserves flipped foreign holdings, now 65% greater

Bitcoin held by U.S. firms far exceeded reserves boasted by offshore counterparts as spot ETFs and Trump’s win unlocked a wave of capital. According to CryptoQuant analysis, Bitcoin ( BTC ) reserves domiciled in the U.S. outpace holdings in offshore control by 65%. Data shows the ratio of U.S. entities’ BTC treasuries versus tokens owned by non-U.S. institutions reached 1.65 on Jan. 6. The ratio is calculated by dividing public U.S. BTC reserves by foreign-based holdings, CryptoQuant CEO Ki Young Ju explained on X. The findings are in. We surveyed 430 financial advisors across the nation to gauge their views on crypto. Here's what they had to say ⬇️ (Spoiler: They’re more bullish than ever) — Bitwise (@BitwiseInvest) January 9, 2025 Trump, wealth funds, and Bitcoin Offshore BTC reserves outpaced U.S. holdings throughout most of 2023, while the cryptocurrency floated below $35,000 amid widespread market uncertainty stemming from 2022 failures. However, U.S.-based BTC storehouses increased rapidly from January last year, buoyed by spot BTC exchange-traded fund approvals from the Securities and Exchange Commission. These products quickly succeeded, accumulating over $110 billion in investor assets — more than 5% of BTC’s market cap — within a year. You might also like: U.S. still holds $6.5b in seized Silk Road Bitcoin Companies like MicroStrategy also piled into BTC as a corporate reserve asset. Led by BTC maxi Michael Saylor, the Tysons Corner’s firm bought 258,320 BTC for $22.07 billion in 2024. Saylor’s “21/21” plans would purchase even more of the leading crypto for MicroStrategy. The findings are in. We surveyed 430 financial advisors across the nation to gauge their views on crypto. Here's what they had to say ⬇️ (Spoiler: They’re more bullish than ever) — Bitwise (@BitwiseInvest) January 9, 2025 President Donald Trump’s shift from a BTC skeptic to a Bitcoin advocate 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. Additionally, 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. The findings are in. We surveyed 430 financial advisors across the nation to gauge their views on crypto. Here's what they had to say ⬇️ (Spoiler: They’re more bullish than ever) — Bitwise (@BitwiseInvest) January 9, 2025 Read more: Crypto under MiCA: What’s changing and what it means for investors and companies

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