Europe is the leader in Bitcoin investment profitability. The annual income of some European traders reached $1,268.
An analysis of aggregate data conducted by Invezz showed that Bitcoin traders with the highest profits operate in Europe. The company came to these conclusions after analyzing the top 23 countries in terms of realized BTC profits in the world in 2020.
Invezz’s analysis was based on a combination of data from various sources and several determining factors:
- Chainalysis’ 23-country chart was adjusted from the country’s population, according to Worldometers.
- A ranking of countries based on the number of citizens investing in crypto-assets was constructed based on TripleA indicators.
- An index of the number of Bitcoin assets per country’s investor was derived.
This analysis correlated the number of crypto traders in the country and their investment success. China and Taiwan were omitted because they “could not be confident enough in the data,” reports Dan Ashmore, author of the study.
Bitcoin traders in the United States accounted for the largest amount of realized profits in 2020, at $4.1 billion. Still, the states failed to get the upper hand when analyzing the country’s population and the number of investors. Thus, the profitability of US Bitcoin traders was only $149 per person for the year.
The leaders were Switzerland and the Czech Republic: investors could earn $1,268 and $1,259 per person, respectively. Despite a small percentage of people investing in cryptocurrencies: only 1.8% in Switzerland and 2.2% in the Czech Republic. However, these traders’ profitability proved to be the highest in the world. On the one hand, such indicators point to the low level of crypto acceptance in the state, on the other hand — to the experience of local Bitcoin traders.
France has the best figures, according to Invezz analysts. Only 3.3% of its population invests in BTC, but their profitability stands at $275 per investor. Ashmore believes that France can claim to be the world’s best country for BTC trading because it’s “the only country to be above average in all metrics.”
Other European nations — the Netherlands ($767), Belgium ($733), Germany ($274), Austria ($233), and the United Kingdom ($238) — were also in the top 10 countries for Bitcoin investment profitability per person. According to the study’s author, the combination of these data makes Europe the dominant continent.
The analysis of all the studied factors showed that the correlation between the percentage of citizens investing in crypto and the profit per investor was negative. So for example, Ukraine was the leader in the number of investors in the country — 12.7%, but the annual profitability of Bitcoin investments totaled only $72 per person. Similar figures are shown in Russia — 11.9% of the population invests in BTC, but the profitability of their deposits is at the level of $35 per capita. Such figures may speak of the widespread idea of cryptocurrencies but of the low level of traders’ training.
Recall that the realized profit of crypto-assets in 2021 grew almost five times, and the leaders were investors from the United States.
