According to CryptoQuant, a blockchain analysis platform, the proportion of Bitcoin reserves held by US entities is currently 65% higher than that held by non-US entities. Ki Young Ju, CEO of CryptoQuant, stated that this ratio is calculated by dividing the known Bitcoin holdings of US entities, including MicroStrategy, exchange-traded funds (ETFs), exchanges, miners, and governments, by the known Bitcoin holdings of non-US entities.
Data shows that this ratio has surged from 1.24 in September 2024 to 1.66 on December 16th. As of January 6th, the ratio stands at 1.65. For most of 2023, when the price of Bitcoin was below $30,000, data indicates that the holdings of non-US entities exceeded those of US entities.
Source: Ki Young Ju
Over the past three months, former US President Trump, who supports cryptocurrencies, won the presidential election and promised to establish a national Bitcoin strategic reserve. This has brought positive sentiment to the entire market, pushing Bitcoin above $100,000, and significantly increasing trading volume and capital inflow into Bitcoin spot ETFs.
MicroStrategy, the largest Bitcoin holder in the world, continues to increase its Bitcoin holdings, leading to a “Bitcoin corporate reserve wave.” Several US-listed companies have started buying Bitcoin, and some companies in other countries, such as the Japanese listed company Metaplanet, have followed suit.
