US-based Bitcoin reserves flipped foreign holdings, now 65% greater

Spot ETFs and Trump’s win unlocked a wave of capital, while Bitcoin held by US firms far exceeded the reserves boasted by their offshore counterparts.

According to CryptoQuant analysis, Bitcoin (BTC) reserves in the US outnumber offshore-controlled assets by 65%. Data shows that the ratio of US institutions’ BTC holdings to tokens held by non-US institutions reached 1.65 on January 6.

According to CryptoQuant CEO Ki Young Ju in his statement on X, this ratio is calculated by dividing publicly traded US BTC reserves by foreign-based assets.

The findings are inside.

We surveyed 430 financial advisors across the country to gauge their views on crypto.

Here’s what they said ⬇️

(Spoiler: They’re more optimistic than ever)

— Bitwise (@BitwiseInvest) January 9, 2025

Trump, wealth funds and Bitcoin

While offshore BTC reserves have outpaced U.S. assets for much of 2023, the cryptocurrency has been hovering below $35,000 amid widespread market uncertainty stemming from the 2022 setbacks.

But U.S.-based BTC storages have increased rapidly from January of last year, boosted by spot BTC exchange-traded fund approvals from the Securities and Exchange Commission. These products quickly became successful, accumulating over $110 billion in investor assets within a year (more than 5% of BTC’s market cap).

Companies like MicroStrategy have also piled into BTC as an institutional reserve asset. BTC maxi The firm from Tysons Corner, led by Michael Saylor, purchased 258,320 BTC for $22.07 billion in 2024. Saylor’s “21/21” plans will see him buy more of the leading cryptocurrencies for MicroStrategy.

The findings are inside.

We surveyed 430 financial advisors across the country to gauge their views on crypto.

Here’s what they said ⬇️

(Spoiler: They’re more optimistic than ever)

— Bitwise (@BitwiseInvest) January 9, 2025

President Donald Trump’s transition from BTC skeptic to Bitcoin advocate has further increased the asset’s appeal. BTC rose to an all-time high of $108,135 following Trump’s victory, driven by bullish market sentiment and his pledge to establish a national Bitcoin reserve.

Additionally, a joint survey by Bitwise Asset Management and analytics firm VettaFi found that 96% of asset advisors report increased crypto-related client demands in 2024. The study also noted an 11% increase in cryptocurrency allocations as investors warmed to the emerging asset class.

The findings are inside.

We surveyed 430 financial advisors across the country to gauge their views on crypto.

Here’s what they said ⬇️

(Spoiler: They’re more optimistic than ever)

— Bitwise (@BitwiseInvest) January 9, 2025