According to an international survey by blockchain research firm Chainalysis, Chinese cryptocurrency investors are set to earn $1,15 billion by 2023, ranking fourth on the chart behind the US, UK and Vietnam. .
Mainland China's ranking rose one place compared to the 2021 survey. At that time, investors earned a total of more than $5 billion.
Meanwhile, Hong Kongers (China) bring in about 250 million USD in 2023. In 2021, they earn 1,3 billion USD.
Chinese people are still interested in cryptocurrencies
According to SCMP, Bitcoin's skyrocketing price earlier this year turned the currency into a popular topic on Chinese social media sites. The newspaper is controlled by the Chinese state economic daily (Economic Daily) emphasized that Bitcoin's recovery cannot hide the potential risks surrounding the digital asset.
The profits achieved show that cryptocurrency enthusiasts here have found many ways to circumvent the law. Some platforms like Binance still allow mainland Chinese users to make transactions despite displaying warnings on the website.
In contrast to the strict ban on the mainland, Beijing has pledged to support Hong Kong in becoming a major hub for virtual assets. Since June 6.2023, Hong Kong allows retail investors to trade virtual assets on licensed platforms.
In 2023, cryptocurrency investors worldwide record a total profit of $37,6 billion, down from $159,7 billion in 2021. However, this number is still a significant increase compared to with 2022 when the market sees a loss of up to 127,1 billion USD. The US cryptocurrency community saw the highest gains in 2021 and 2023, earning $47 billion and $9 billion, respectively.
Bitcoin has increased more than 50% in early 2024 thanks to strong capital inflows into Bitcoin spot ETFs in the US and the approaching halving event.
Chainalysis company believes that the growth of Bitcoin and Ether is being extended from 2023 to 2024. If these positive trends continue, the profits of investing in Bitcoin and Ether can achieve large growth. like 2021.
