Analysts said the US was actively investing in the first cryptocurrency amid news of spot Bitcoin ETFs.

“Over the past month, Bitcoin has risen by about 30%, with most of this growth occurring during US trading hours. This indicates that American institutions and investors were happy to receive the news of the imminent emergence of Bitcoin funds,” the document says.

In addition, experts noted that there are about 420-440 million cryptocurrency owners in the world. 260 million of them are based in Asia, 54 million in North America, 38 million in Africa, 31 million in South America and 1.5 million in Oceania.

Experts noted that although most investors are in Asia, “the purchasing power of American traders and institutions is much higher.”

Chainalysis also reported that Bitcoin is the most commonly used currency in the United States. Between July 2022 and June 2023, the volume of asset transactions in the region exceeded $1 trillion.

At the time of writing, Bitcoin is trading at around $34,150.