Crypto taxation software CoinTracker has launched a report evaluating the prevalence of cryptocurrency possession throughout main cities in the USA. The report relies on consumer information that CoinTracker has been accumulating since 2013.
CoinTracker discovered that the highest 4 ranked cities by common crypto portfolio measurement are all in California’s San Francisco Bay Space, with San Francisco correct at roughly $55,000 adopted by Palo Alto with $39,000, Oakland with $35,000 and San Mateo with $30,600.
Solely 4 cities outdoors of California are dwelling to buyers whose common crypto holdings exceed $20,000 within the U.S. — with Seattle, New York, Tampa, and Pittsburgh buyers holding between $27,000 and $21,000 on common.
Focus of buyers
The findings additionally present a big focus of crypto buyers within the cities of San Francisco and New York — with their mixed “crypto consumer index” roughly equating to that of the following 4 highest-ranked cities mixed.
San Francisco is the highest U.S. crypto metropolis by the variety of buyers and thus scored a consumer index of 100.
New York ranks second for crypto investor density with a consumer index score of 92, nonetheless, it ranks sixth by the common worth of holdings at practically $23,000.
Los Angeles has the third-largest density of crypto buyers with a consumer index of 57.2, adopted by Chicago with 48.8, and Seattle with 39.7.
Ashburn, Virginia tops per capita crypto holder rankings
Regardless of comprising a small city of 43,000 in Virginia, Ashburn tops the checklist for crypto possession density when assessed on a per capita foundation.
Regardless of its small inhabitants, Ashburn has been described because the “Heart of the Web,” with 70% of web visitors passing by town that additionally has the fourth-largest information middle density in the USA.
Washington’s Redmond, a metropolis outdoors of Seattle and the “bicycle capital of the northwest,” has the second-highest variety of crypto buyers per capita, adopted by San Francisco.
79% of U.S. crypto wealth is held in Bitcoin or Ether
Bitcoin (BTC) investments comprise 50.3% of CoinTracker customers’ crypto portfolios, adopted by Ether (ETH) at 28.7%.
Tether (USDT) ranks third at4.1%, adopted by Litecoin (LTC) at 3.3%, Ripple (XRP) at 3.1%, Chainlink (LINK) at1.9%, and Bitcoin Money (BCH) and Tezos (XTZ) with 1.7% every.
The eight-most in style crypto property comprise 94.8% of U.S. digital forex holdings mixed, with all different crypto property representing lower than 1% of complete capital within the cryptocurrency markets every.
Ether investments outweigh the Bitcoin holdings of buyers in San Diego, Nashville, Seattle, Boston, San Francisco, and The Bronx — with Ether comprising greater than 50% of crypto wealth in every metropolis.
Buyers primarily based in Redmond, San Antonio, Atlanta, and Fremont have the vast majority of their crypto capital allotted to markets aside from BTC or ETH.