Bitcoin

<ul><li>U.S. entities&#39; Bitcoin holdings dropped by 64% to 612,472 BTC by September 2023, per CryptoQuant.</li><li>Uncertain U.S. crypto regulations, supported by SEC Chair Gensler’s statements have contributed to this decline.</li><li>European investors in contrast have seen the regulatory challenges as investment opportunities, with an inflow of crypto funds by $16 million.</li></ul>In a recent <a href="https://ambcrypto.com/search/btc" rel="noopener noreferrer nofollow">analysis</a> of Bitcoin&#39;s geographical supply distribution, it has been revealed that the supply of Bitcoin (BTC) held by U.S. entities has been steadily decreasing since June 2022. According to <a href="https://cryptoquant.com/asset/btc/chart/research/geographical-supply-distribution-by-entities?window&#61;DAY&amp;priceScale&#61;log&amp;metricScale&#61;linear" rel="noopener noreferrer nofollow">data</a> from CryptoQuant, the cumulative BTC balance of entities located in the United States has dropped by a substantial 64% over the past year, with holdings standing at 612,472 BTC as of September 26, 2023.The decline in U.S. Bitcoin holdings has been attributed to a combination of factors, including rising interest rates and other economic factors. However, a significant driver of this trend appears to be the increasingly uncertain regulatory landscape surrounding cryptocurrencies in the United States.Securities and Exchange Commission (SEC) Chair Gary Gensler reinforced this uncertainty in his <a href="https://www.banking.senate.gov/imo/media/doc/gensler_testimony_9-12-23.pdf" rel="noopener noreferrer nofollow">testimony</a> before the Senate Banking Committee on September 12, 2023. Gensler stated that crypto assets should be classified as securities and subjected to regulation by the SEC, asserting,Read full article at <a href="https://cryptotale.org/u-s-bitcoin-holdings-decline-as-regulatory-uncertainty-takes-its-toll/" rel="noopener noreferrer nofollow">CryptoTale.</a>

U.S. Bitcoin Holdings Decline as Regulatory Uncertainty Takes Its Toll

CryptoTale

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