According to Chainalysis, crypto investors in the United States earned a record $46.9 billion in realized gains in 2021, far outpacing the rest of the world. The United States is followed by the United Kingdom ($8.1 billion) and Germany ($5.8 billion). American investors made upto six times more than the second on the like, i.e. the UK.
The analysis comes at a time when worldwide bitcoin usage is gaining steam. Adoption and realized gains in the United States have increased dramatically, with total expected gains for 2021 up 476% from $8.1 billion the previous year.
How have other countries fared in Chainalysis’ crypto report?
Countries that surpassed their “traditional” economic rankings received special recognition in the report.
Despite being rated 11th in the world in terms of GDP, Turkey was ranked sixth in terms of realized crypto gains.
Vietnam is ranked 25th in the world in terms of GDP ($1.1 trillion), but 16th in terms of actual cryptocurrency gains ($2.7 billion). Ukraine is ranked 40th in the world in terms of GDP, with $576 billion, but 13th in terms of realized crypto gains, with $2.8 billion. At a GDP of $460 billion, the Czech Republic is ranked 47th in the world, but 19th in terms of realized crypto gains with $1.9 billion. Venezuela is ranked 78th in the world in terms of GDP, with $144 billion, but 33rd in terms of actual cryptocurrency gains, with $1.1 billion.
China was one of the few significant countries that did not experience the same tremendous improvements as the rest of the world. China’s total expected realized bitcoin gains in 2021 were $5.1 billion, up from $1.7 billion in 2020, representing a 194% year-over-year increase. Considering the numerous crypto prohibitions that were gradually enforced in China in 2021, this is still outstanding development.
However, China’s performance comes nowhere close to other countries such as the United Kingdom and Germany, which experienced increases of 431% and 423%, respectively, last year.
Ethereum highlight of 2021?
Another noticeable trend was the rise in total gains from Ethereum (ETH), which saw ETH investors cash out a total of $76.3 billion in 2021, surpassing Bitcoin (BTC) as the highest realized earnings crypto asset. Bitcoin holders did not do all that bad in 2021, with the community making $74.7 billion in profits.