In the United States, investors recorded gains of $ 47 billion last year. It is the country that comes first in this area. France is in eighth place.
Investors are surfing more and more on the emergence of cryptocurrencies. Investors and individuals with cryptocurrencies thus achieved total gains of $ 162.7 billion in 2021 compared to $ 32.5 billion in 2020, reveals a global study conducted by Chainalysis, a company specializing in blockchain.
But in which countries have they achieved the most cryptocurrency gains overall? According to Chainanlysi’s estimates (see method at the end), the US is well ahead of the 50 countries surveyed with $ 47 billion in gains for all investors, followed by the UK, Germany, Japan and China.
4.1 billion in earnings in France in 2021
France, for its part, is in eighth place with $ 4.1 billion (3.8 billion euros) in gains in cryptocurrencies by 2021. Contacted by BFM Crypto, Chainalysis is not able to report total earnings in France by 2020, but clarifies that bitcoin earnings in France increased from $ 600 million in 2020 to $ 1.8 billion in 2021.
It should be recalled that in France, cryptocurrencies fall within the framework of the flat tax of 30% (one-off tax or PFU, with 17.2% social security contributions plus 12.8% income tax), with a dedicated scheme for digital assets.
China’s business in decline
The Chainalysis study highlights China’s loss of momentum in the cryptocurrency sector, which is explained by the interventions that the government has launched. In September, the Chinese central bank announced that all transactions related to cryptocurrencies were becoming illegal.
But since blockchain technology is inherently decentralized, this did not prevent investors and individuals from making on-the-spot gains of $ 5.1 billion in 2021 compared to $ 1.7 billion in 2020, a growth of 194% year-on-year. -year. “While this may seem significant, it represents a lower growth rate than other countries,” the study points out, citing 476% year-on-year earnings in the US (from 8.1 to 47 billion) with the UK and Germany showing almost the same growth rates.
Ether beats bitcoin
Another notable fact in the study: ether, the second largest cryptocurrency in terms of capitalization (today $ 335 billion) after bitcoin (about $ 711 billion at the moment), is slightly ahead of bitcoin in world earnings by a total of $ 76.3 billion , compared to $ 74.7 billion in bitcoin earnings.
A phenomenon that, according to Chainalysis, is explained by the advent of decentralized finance (DeFi) in 2021, which especially uses the ethereum blockchain and its own cryptocurrency, ether. As a reminder, decentralized finance is an open finance system, accessible to any user, which also makes it possible to perform certain classic operations of traditional financing (such as loans).
Complex estimates to make
Chainalysis recognizes that its method of calculating cryptocurrency earnings by country remains complex and “not perfect”, due to the decentralized nature of blockchain technology.
As a reminder, a bit like a digital book, blockchain brings together all the blocks (transactions) in a network, from the oldest to the most recent. The two most well-known blockchains are bitcoin and ethereum.
“First, we measure flows at the blockchain, at the macro level, from all the cryptocurrencies we track, to each cryptocurrency company we track. Next, we estimate the total and collective gains on each asset by measuring the differences between the US dollar value of all disbursements from the asset. “We then divide these deposits from the asset. We then break down these gains (or losses) by country based on the share of web traffic that each country represents on each cryptocurrency exchange’s website,” explains Chainalysis.