Top Countries with the Most Bitcoin (BTC) Hodlers
There are many theories (some more outlandish than others) regarding who really owns most of the bitcoins that are currently in circulation. “Whales”, which are usually exchanges, funds or big mining firms, have been rumoured to be responsible for moving big amounts of BTC these days, but there is still hope that many investors from all over the world have a collective investment in the coin.
Various statistical studies have shown that there are some countries that are home to a number of BTC hodlers. Below is a list with the countries that have the most Bitcoin hodlers.
1. The United States
Although the States are where most crypto- related businesses operate, such as exchanges, trading platforms, funds, crypto mining companies etc., it is quite surprising that not such a large amount of BTC holders actually come from here.
But seeing as the US has the largest population compared to the rest of the countries, 8% of its entire population being Bitcoin owners is still a significant number.
2. South Korea
South Korea is another major player in the world of cryptocurrencies. While the country has had several of its exchanges hacked, it is still home to a substantial number of popular exchanges and crypto businesses. Bitcoin ranks as the highest coin that is traded and owned here.
Romania has grown to become Eastern Europe’s most recognized tech hubs, housing thousands of international firms and businesses from the IT industry, drawing in quite a number of freelance programmers and developers.
Having a growing consumer base which is involved daily with programming and coding, it is quite normal that some of them would manifest interest in other branches of the industry, in this case, cryptocurrencies.
This is why Romania is home to a significant number of crypto hodlers. Considering the plethora of international companies that operate here, crypto transactions would make sense due to their low cost for overseas transactions. 12% of their consumer population own a certain type of crypto, with Bitcoin being the most popular.
The Parliament of Malta has been taking great strides in making this island nation a haven for blockchain and cryptocurrency use. They have expressed their positive stance regarding Bitcoin, and which already approved three bills that set the basis of a framework for blockchain technology in July 2018.
Many exchanges and businesses from the crypto world have relocated to this island because of this reason, as their own home countries have started cracking down on this industry sector and have made it hard for them to maintain their operations.
Malta has developed an established regulatory body, and along with low net corporate rates, will enable crypto startups to flourish financially and further the adoption movement.
5. The Czech Republic
The Czech Republic has seen a rise in crypto adoption lately, and this has probably led to an interest in holding cryptos. It has been reported that 9% of all of its population has invested in digital assets. The exact percentage of people that own Bitcoin or altcoins are variable and currently unknown.
In Spain, there have been set up quite a large number of ATMs which let users convert their Bitcoin to fiat currency. But this adoption movement seems to be limited to a single market niche in this country. It has been reported that 10% of the population has purchased and or owned virtual coins.
Poland is one of Europe’s latest countries to be introduced to cryptocurrency, but its people have expressed their curiosity and acceptance for Bitcoin and other altcoins. 11% of the consumer population hold a certain amount of cryptos in their capital portfolio. Even though Poland is not yet on the crypto map, the growing interest in this sector will probably make them stand out in the future.
8. Antigua and Barbuda
Antigua started using a very novel approach when it comes to offering citizenship in exchange for Bitcoin. Due to the restrictions imposed on the flow of US dollars Antigua had to diversify its monetary options. Antigua’s reason for accepting Bitcoin as payment may be mostly because of economic reasons, but it’s still better than no acceptance at all.
The two-island nation lowered the price of its passport to $125,000 in the Caribbean citizenship price wars and required citizens to lie 5 days in the country before being naturalized.
Japan is a country known for its embracing attitude towards emergent technologies. It is known for its supportive position on crypto, being one of the few countries that have legally recognized cryptocurrencies as a means of payment.
In this country, fiat currency is followed by bitcoin as the official means of payment. Japan has a large flow of bitcoins, going in and out of its borders, with many of its citizens keeping them as a form of long-term investing. From data provided by CoinMarketCap, the crypto exchanges that operate here have been reported to have a high transactional traffic.
Switzerland has begun implementing measures that facilitate crypto adoption in the country. Banks have announced that they will start accepting cryptocurrency payments, and the Swiss Bankers Association has encouraged banks to work together with cryptocurrency startups. This has probably motivated its citizens to integrate digital assets into their capital portfolio.
With this, we conclude our list of the countries that have the most Bitcoin hodlers. As the industry becomes more widespread in popularity and use, there will probably be more people that will start holding cryptos as a long-term investment option.
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