Bitcoin (BTC) Reserves Domiciled in the U.S. Outpace Holdings in Offshore Control by 65%

According to CryptoQuant analysis, Bitcoin (BTC) reserves domiciled in the U.S. outpace holdings in offshore control by 65%.

Bitcoin holdings in the United States far surpassed those offshore, driven by the approval of spot ETFs and President Trump's support for crypto.

Data from CryptoQuant reveals that Bitcoin reserves in the U.S. outpaced offshore holdings by 65%. Specifically, the ratio of U.S. entities' BTC treasuries to tokens owned by non-U.S. institutions reached 1.65 on Jan. 6.

"The ratio is calculated by dividing public U.S. BTC reserves by foreign-based holdings," explained CryptoQuant CEO Ki Young Ju on X.

Throughout most of 2023, offshore BTC reserves outpaced U.S. holdings as the cryptocurrency traded below $35,000 due to market uncertainty. However, U.S.-based BTC storehouses increased rapidly from January last year.

The approval of spot BTC exchange-traded funds by the Securities and Exchange Commission drove capital into the U.S. These products saw quick success, amassing over $110 billion in investor assets — more than 5% of BTC’s market cap — within a year.

Companies like MicroStrategy also contributed to the increase in U.S. BTC holdings, adding Bitcoin as a corporate reserve asset. Led by BTC maxi Michael Saylor, the Tysons Corner's firm purchased 258,320 BTC for $22.07 billion in 2024. Saylor's "21/21" plans aimed to acquire even more of the leading crypto for MicroStrategy.

President Donald Trump's shift from a BTC skeptic to a Bitcoin advocate also boosted the asset's appeal. Following Trump's victory, BTC surged to a new all-time high of $108,135, fueled by bullish market sentiment and his commitment to establishing a national Bitcoin reserve.

Furthermore, a joint survey by Bitwise Asset Management and analytics firm VettaFi revealed that 96% of wealth advisors reported increased client inquiries about crypto in 2024. The study also noted an 11% rise in cryptocurrency allocations as investors embraced the emerging asset class.