CryptoQuant CEO Ki Young Ju revealed on X, that this ratio compares the Bitcoin holdings of U.S.-based entities such as MicroStrategy and exchange-traded fund (ETF) holders, exchanges, miner holdings, government holdings against those offshore.
The ratio has increased from 1.24 as of September 2024, to 1.65 on January 6, 2025. This shows a significant rise in U.S. power.
Non-U.S. In 2023, the number of bitcoins held by non-U.S.
Non-U.S. companies held more Bitcoin in 2023 than their U.S. competitors when Bitcoin was trading below $30,000.
The market experienced a dramatic shift in response to Donald Trump’s procrypto reelection.
Bitcoin’s price soared to a new record of $108,135.
The announcement also sparked activity in spot Bitcoin-based ETFs. This led to weekly inflows in the billions of dollar range.
According to SoSoValue, these ETFs collectively manage assets worth over $108 billion, which is 5.74% the total market cap of Bitcoin.
MicroStrategy has been steadily increasing its Bitcoin reserves.
The company has recently purchased 1,070 BTC. This brings its total to 447.470 BTC. Michael Saylor, co-founder of the company, announced plans to raise 42 billion dollars over three years in order to fund further purchases.
The U.S. led Bitcoin accumulation wave has encouraged other countries and areas, such as Russia, Poland and Vancouver, consider building their Bitcoin reserves.
Not everyone is in favor of this trend. Steve Hanke of Johns Hopkins University’s Department of Applied Economics criticized the idea that the United States should have a strategic Bitcoin reserve.
Hanke claimed that these savings divert funds from investments in innovation, production, and the creation of jobs, thereby undermining economic development.
Bitcoin is currently trading over $94,000. This is down 2% from the previous 24 hours.
US Spot Bitcoin Funds to Receive Over $35 Billion in Inflows by 2024
In 2024, the net inflows of spot Bitcoin ETFs were $35.66 billion , which was a significant increase over early industry predictions.
BlackRock’s iShares Bitcoin Trust (IBIT) was the leader in terms of inflows with $37.31 Billion. Fidelity’s Wise Origin Bitcoin Funds (FBTC) followed with $11.84 Billion, and ARK’s 21Shares Bitcoin (ARKB) ETF with $2.49 Billion.
Bitwise Bitcoin ETF, or BITB, also reported inflows of $2.19 billion.
Galaxy Digital’s initial first-year estimate of $14 billion was far exceeded by these figures.
Bitcoin ETFs experienced a slight decline towards the end of the year, with outflows totaling $1.33 billion since December 19.
BlackRock’s iShares Ethereum Trust ETF and Fidelity Ethereum Fund led the Ether ETF inflows, with $3.52 and $1.56 Billion, respectively.
Grayscale’s low fee Ethereum Mini Trust ETF, (ETH), secured $608.1 inflows while Bitwise Ethereum ETF, (ETHW), crossed $400 million.
