Bitcoin News

Asia’s Bitcoin supply records new ATH while US, EU reserves shrink

Haru Invest

Asia’s Bitcoin (BTC) supply reached its all-time high (ATH) and currently accounts for 7.3% of all Bitcoin supply, while the U.S. and E.U. Bitcoin reserves are in negative year-over-year supply.

Asia Markets

The chart below demonstrates the size of Asia’s Bitcoin supply since 2010. Except for brief periods in 2016-2017 and 2020, the region has been struggling with negative supply levels.

Asia Bitcoin Supply
Asia Bitcoin Supply

Asia’s Bitcoin reserves started to rise above zero at the start of the year and reached its ATH as of November. The region currently holds 7.3% of the total Bitcoin supply, which equates to 1,402,330 Bitcoins.

The U.S. and the E.U.

While Asia has been accumulating, the E.U. and the U.S. kept losing Bitcoins.

The E.U.

The chart below shows the growth of E.U.’s Bitcoin reserves since the beginning of 2010. While the region also struggled with below-zero supply levels like Asia, it did relatively better until late 2019.

EU Bitcoin Supply
E.U. Bitcoin Supply

The E.U.’s Bitcoin reserves recorded its ATH in late 2018, accounting for nearly 6.25% of the total supply. However, this percentage fell to negative 2.5% in mid-2019 and negative 5% in 2020.

The E.U. reserves recovered to reach zero in mid-2020 before falling back to negative 5% by mid-2021. Currently, it is on a recovery trajectory but remains at around negative 1,25%.

The U.S.

Unlike Asia and the E.U., the U.S. recorded a worsening scenario with its Bitcoin reserves. As can also be seen from the chart below, the U.S. Bitcoin reserves were above zero for the most part between 2010 and 2016.

After it fell below zero in early 2016, it struggled to increase to the positive side until the end of 2020. However, even though it recovered above zero in 2021, the U.S. Bitcoin supply has been shrinking.

US Bitcoin reserves
U.S. Bitcoin reserves

The U.S. Bitcoin supply ATH was recorded in 2011, accounting for nearly 30% of the whole supply. However, the U.S. failed to maintain the positive supply level it recovered to in 2021 and fell below zero in early 2022. Currently, the U.S. Bitcoin reserves account for almost negative 8% of all Bitcoin supply.

Asia on crypto

Recent studies turned the eyes on Asia regarding increasing crypto adoption in the region. A study by HSBC and KPMG revealed that a quarter of 6472 start-ups operating in the region are crypto-related businesses. Another report from July 2022 also concluded that mass crypto adoption is expected in Asia Pacific.

Major countries in the region also support these findings by taking significant…

Click Here to Read the Full Original Article at Bitcoin (BTC) News | CryptoSlate…