Americans pocketed $4B in bitcoin profits in 2020, analysis reveals

Americans got richer off bitcoin than any other country last year — pocketing $4.1 billion in profits as the price of the volatile cryptocurrency soared to $29,000 from under $10,000, according to a new analysis. The US was followed by China, which cashed out some $1.1 billion in profits in 2020, according to data published Monday by blockchain firm Chainalysis. Japan came in third with $900 million, followed by the United Kingdom with $800 million and Russia with $600 million. The figures only cover realized gains, meaning that profits still held in cryptocurrencies or in exchange accounts are not included.