According to ChainCatcher, CryptoQuant CEO Ki Young Ju said on X that the share of Bitcoin reserves held by US entities is now 65% higher than that of non-US entities. The ratio divides the Bitcoin holdings of known US entities (including MicroStrategy, ETFs, exchanges, miners, and governments) by the Bitcoin holdings of known overseas entities.

Data shows that the ratio rose from 1.24 in September 2024 to 1.66 on December 16. As of January 6, the ratio was 1.65. For most of 2023, when Bitcoin was trading below $30,000, data showed that overseas Bitcoin holdings exceeded US holdings.