Analysis: Americans Booked $4 Billion in Bitcoin Profits in 2020

2020 might have been a miserable year for most Americans, but it was a high-water mark for a certain group of citizens -- Bitcoin (CRYPTO: BTC) traders. According to a multi-country study undertaken by blockchain research company Chainalysis, these folks collectively booked an estimated $4.1 billion in profits from wheeling and dealing in the leading cryptocurrency.

The U.S. tally was nearly four times that of the runner-up, China, whose citizens earned around $1.1 billion in profits during the year.

The top five countries were rounded out by Japan at No. 3 (approximately $900 million in volume), followed by the U.K. ($800 million), then Russia ($600 million).

Source Fool.com