Bitcoin investors in China saw greater returns in 2020 than almost any other nation — second only to the U.S. — according to a recent report by Chainalysis, a blockchain analysis company.
Fast Facts:
- Chinese Bitcoin investors made US$1.1 billion throughout the year, following the U.S. at US$4.1 billion. Japan was ranked third with US$0.9 billion in Bitcoin profits.
- The findings come despite China’s increasing government restrictions on crypto mining and trading — and speak to the level of interest in the industry by the people of the world’s most populous nation.
- India, with a population close to China’s, was ranked 18th globally in Bitcoin returns, with only US$0.2 billion made throughout the year. This could reflect India’s uncertain regulatory environment for cryptocurrency.
- As for overperformers in Asia; Vietnam, which is 53rd in the world in terms of GDP, was ranked 10th in the Chainalysis report, with a total of US$0.4 billion earned in 2020.