The U.S Is On Track To Lead The Bitcoin Adoption Race According To This Recent Data

When Trump won the U.S elections in November 2024, the race for the Bitcoin adoption was officially on.

A lot has happened since then, with multiple countries embracing the cryptocurrency whether as an investment and as a payment gateway.

The rapid adoption of Bitcoin by multiple countries underscores the growing competition taking place behind the scenes. Countries are moving swiftly to secure a piece of the Bitcoin piece while it’s still early.

The US has so far maintained the lead as the country with the highest amount of Bitcoin owned by the state.

A recent analysis revealed that 65% of Bitcoin is held by U.S entities while the remaining smaller share is held by non-US entities.

The chart confirms that the US is currently in the lead. This is largely thanks to Bitcoin ETFs and the large amount of US government-owned Bitcoin. Corporate interest in Bitcoin has particularly been the biggest contributor.

– Advertisement –

A classic example is Microstrategy which has been raising high the flag of institutional adoption. This investment company has been aggressively accumulating BTC to the point where now owns 444,000 Bitcoin. This is more than the sum of BTC owned by the US, China and the UK.

U.S States Embrace Bitcoin Through Independent Legislations

Bitcoin strategic reserves might arrive sooner than later according to recent announcements. It was initially thought that the Federal government would pursue a strategic reserve approach, but it now looks like it could be a states affair.

Recent reports revealed that at least 2 states have filed their own legislation for Bitcoin strategic reserves.

Attainment of strategic reserve status means the individual states can start buying Bitoin. If the legislations are passed, more states will likely jump on the trend.

Such developments propel the U.S further into the lead in the race for Bitcoin adoption. The legislations will also go beyond just owning Bitcoin.

Oklahoma, for example, of the states that have embraced BTC. The state recently introduced the Bitcoin Freedom Act which make Bitcoin payments a reality.

What Is The Bitcoin Freedom Act

The Bitcoin Freedom Act will allow venders to opt for BTC as a payment gateway. This means anyone who holds Bitcoin can use it to purchase goods and services at outlets that accept BTC.

In addition, employers will have the option of being paid in Bitcoin rather than fiat currency. Senator Dusty Deevers who introduced the Oklahoma Bitcoin Freedom Act described Bitcoin as a promising alternative for preserving wealth.

Senator Deevers’ statement was rooted in the rapidly deteriorating value of fiat currency as sovereign debt spirals out of control.

The senator also echoed President Trump’s sentiments about Bitcoin becoming a significant part of the financial future.

These pro-Bitcoin moves have occurred barely half way into January. This suggests that 2025 is already on track to be a busy one especially in terms of Bitcoin adoption.

It will be interesting to see how things will play out especially once pro-crypto regulations are implemented.