The Daily Times Newspaper

Americans Made $4 Billion Last Year With Bitcoins

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Americans made more than $4 billion last year trading bitcoins. The world’s most famous cryptocurrency price quadrupled in value in 2020, which has benefited many investors in digital currency.

 

US investors were particularly active on the cryptocurrency exchange, Coinbase. China ranks second in the ranking of 25 countries where investors made the most money from bitcoins, with $1.1 billion in profits.

Then come Japan, the United Kingdom, Russia and Germany. Countries such as Vietnam, Turkey and the Czech Republic are also in the ranking.

Chainanalysis’s research is based on information from transaction tracking of crypto service providers. Bitcoin is now worth more than $33,000, which is about half of the peak of more than $60,000 reached in April.

The coin’s value is under pressure due to stricter regulations from authorities and regular criticism of the bitcoin from Tesla CEO Elon Musk.

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