China

According to a report from blockchain analytics firm Chainalysis, bitcoin investors in the U.S. realized $4.1 billion in bitcoin gains in 2020, by far the highest gains by investors in any country.

“U.S. investors collectively made over $4 billion in realized Bitcoin gains in 2020, more than 3x the next highest country, China,” according to the report. “This may seem surprising considering that China historically has by far the highest raw cryptocurrency transaction volume, but … U.S.-focused exchanges saw huge inflows in 2020 that appear to have been realized toward the end of the year.”

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