Crypto Funding Wealth Is Highest in San Francisco Bay Space


Crypto taxation software CoinTracker has launched a report evaluating the prevalence of cryptocurrency possession throughout main cities in america. The report relies on person information that CoinTracker has been amassing 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 residence to traders whose common crypto holdings exceed $20,000 within the U.S. — with Seattle, New York, Tampa, and Pittsburgh traders holding between $27,000 and $21,000 on common.

Focus of traders

The findings additionally present a big focus of crypto traders within the cities of San Francisco and New York — with their mixed “crypto person 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 traders and thus scored a person index of 100.

New York ranks second for crypto investor density with a person index ranking of 92, nonetheless, it ranks sixth by the typical worth of holdings at practically $23,000.

Los Angeles has the third-largest density of crypto traders with a person 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 “Middle of the Web,” with 70% of web visitors passing by town that additionally has the fourth-largest information middle density in america.

Washington’s Redmond, a metropolis outdoors of Seattle and the “bicycle capital of the northwest,” has the second-highest variety of crypto traders 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 common crypto property comprise 94.8% of U.S. digital foreign money 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 traders in San Diego, Nashville, Seattle, Boston, San Francisco, and The Bronx — with Ether comprising greater than 50% of crypto wealth in every metropolis.

Traders primarily based in Redmond, San Antonio, Atlanta, and Fremont have nearly all of their crypto capital allotted to markets apart from BTC or ETH.

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