Which Countries Got the Most Financial Gain From Bitcoin in 2020: Ranking
Blockchain monitoring company Chainalysis has published the results of a study on the amount of profit that every country in the world received from Bitcoin in 2020.
In a research article, it is said that geographic research is difficult due to decentralized technology, “it is impossible to trace the geography of any single transaction.”
The company explained which methodology the specialists used in their research:
“First, we measure the flow of funds in the chain for each cryptocurrency exchange. We then find the difference in price between when the corresponding asset (Bitcoin in this study) is traded and when it is withdrawn from the stock market, and calculate the total return in USD.
We then distribute these gains (or losses) by country by looking at the number of visitors to the exchange sites. However, funds that have not been withdrawn from the exchange are not included in the study.”
According to the published rating, the United States received the largest profit from Bitcoin transactions in 2020 – approximately $ 4.1 billion. The second place in the ranking was taken by China with $ 1.1 billion. In third place is Japan with $ 900 million profit. The fourth is Great Britain with $ 800 million. And fifth place was taken by Russia with 600 million dollars. Thailand closes the rating of 25 countries with about $ 200 million profit from Bitcoin.
Chainalysis said the numbers are not accurate.