David Edwards
According to data from CryptoQuant, U.S.-based companies currently possess 65% more Bitcoin than their offshore equivalents. Introduced by Ki Young Ju, CEO of CryptoQuant, the statistic compares U.S. businesses’ Bitcoin holdings—including those of companies like MicroStrategy, exchange-traded funds (ETFs), cryptocurrency exchanges, miners, and even the federal government—to those of non-U.S. entities worldwide.
The U.S.-to-offshore Bitcoin ratio increased significantly from 1.24 in September 2024 to 1.65 as of January 6. While prices stayed below $30,000 for the majority of 2023, offshore corporations had the largest share of Bitcoin reserves. Due to significant market movements, Bitcoin surged beyond $100,000 in the final quarter of 2024, reversing this pattern.
Factors Influencing the Growth of Bitcoin in the United States and the Pro-Crypto Policy Movement
Market excitement was rekindled after pro-crypto President Donald Trump was elected, and his administration has shown support for a national strategic Bitcoin reserve. Trump’s overwhelming victory and this policy pledge instilled optimism in the market, sending Bitcoin to its highest point ever—$108,135.
Significant inflows were seen by spot Bitcoin ETFs, with weekly net investments amounting to billions of dollars. According to SoSoValue, the combined net assets of these ETFs now surpass $108 billion, or 5.74% of the market capitalization of Bitcoin. The U.S. leads the world in institutional cryptocurrency adoption, as evidenced by the rising popularity of Bitcoin ETFs.
The largest corporate Bitcoin holder in the world, MicroStrategy, is still at the forefront of institutional investing initiatives. With its most recent purchase of 1,070 BTC, its total holdings now stand at 447,470 BTC. In order to finance more Bitcoin acquisitions and maintain its position as a significant player in the cryptocurrency market, the business intends to raise an additional $42 billion over the course of three years.
Effects of Global Ripples
Discussions in various jurisdictions have been sparked by the aggressive Bitcoin accumulation in the United States. As part of their strategic planning, countries like Russia and Poland as well as Canadian cities like Vancouver have started looking at Bitcoin reserves. The idea is still controversial, though.
Professor of economics Steve Hanke of Johns Hopkins University opposed the notion of a strategic U.S. Bitcoin reserve, claiming that it takes funds away from profitable ventures. “Savings funneled into Bitcoin aren’t building factories, creating jobs, or driving innovation,” Hanke said, emphasizing the importance of productivity in sustaining economic prosperity.
