A new report from River, a Bitcoin-only financial institution, states that the United States is the global leader in Bitcoin adoption, with 14.3% of its population owning the flagship cryptocurrency.
The report specifies that while America leads the world in total wealth, economic size, and gold reserves, its dominance in Bitcoin wealth is even more pronounced. It is estimated that nearly 50 million Americans own Bitcoin and are more likely to purchase the cryptocurrency than citizens of any other major developed nation. This massive adoption is driven by two key factors:
- Access: Friendlier regulation supporting a wide range of crypto firms and the lack of accreditation requirements for investment have made Bitcoin readily accessible to most Americans.
- Culture: America’s deep-rooted culture of entrepreneurship, individual investing, and financial freedom prepared the population to adopt Bitcoin in its infancy.
Bitcoin Ownership by Population
The study highlights that Bitcoin ownership is highest among Americans aged 31-35 and 41-45, with rates ranging from 30% to 41% within these age groups. Based on political orientation, those identifying as “very liberal” or “neutral” are more likely to hold cryptocurrency than conservatives. However, conservatives still make up a large portion of Bitcoin buyers.
America’s Bitcoin-Friendly Capital Markets
Meanwhile, corporate America also leads in Bitcoin holdings. River’s report states that 32 public companies, with a combined market capitalization of $1.26 trillion, hold Bitcoin as a treasury asset. These entities also account for 94.8% of all BTC owned by publicly-traded firms worldwide.
Major holders include Strategy (formerly MicroStrategy) with 569,000 BTC, US Bitcoin mining companies with 96,000 BTC, and other companies with a combined 68,000 BTC in their balance sheets. This brings the total amount of Bitcoin in the US to 733,000 BTC, compared to 40,000 BTC held by companies in other countries.
The launch of spot Bitcoin exchange-traded funds (ETFs) on Wall Street in 2024 has supported the corporate adoption of Bitcoin. Leading US asset managers like BlackRock and Fidelity have stated that Bitcoin is among their most successful investment products. As of April 2025, Bitcoin ETF holdings by US institutional investors stand at $31 billion, with 79.2% of global Bitcoin ETF holdings being held by American companies.
Here is a breakdown of the largest US holders of Bitcoin and Bitcoin ETFs:
- Hedge Funds
- Citadel
- Millennium
- DE Shaw & Co.
- Mariner
- RIAs
- Cambridge Associates
- Hightower
- Fisher Investments
- Silvercrest
- Insurance
- MassMutual
- TIAA
- Northwestern Mutual
- Pensions
- Michigan Office of Retirement Services
- Endowments
- Stanford University
- Yale
- MIT
- Brown University
- Harvard University
*These entries are according to SEC 13F filings made as of December 31st, 2024.
38% of all Bitcoin Mined Since 2021 Came From the US
The United States became the global leader in Bitcoin mining following China’s blanket ban on the industry in late 2021. Since then, America has been responsible for 38% of all new Bitcoins that have entered circulation, attracting over $30 billion worth of crypto mining investments.
The report states that miners were attracted by the country’s stable and supportive regulatory environment, deep and liquid capital markets that can fund and scale operations, and abundant energy resources.
As of 2025, the US accounts for 36% of Bitcoin’s network hashrate, more than double the rate of second-placed Russia (15.6%). America’s share of global Bitcoin mining hashrate has grown by over 500% since 2020, solidifying its position as the cornerstone of the industry. Texas, North Dakota, and Georgia contribute the most to the US Bitcoin hashrate. The country has 40+ Bitcoin mining sites with an energy output of 10 megawatts (10 MW).
More than 150 Bitcoin companies, employing over 20,000 Americans, have headquarters in the US, and a majority of them are based in California, New York, and Texas. US companies have mined $42.6 billion worth of Bitcoin over the last four years.
America is the Largest Investor in Bitcoin Companies and Leads the Blockchain’s Development
The US has long established itself as the leader of the internet economy, and the country is well-positioned to repeat this success in the Bitcoin economy. Since 2021, over 70% of global Bitcoin-focused venture capital funding has gone to American companies, and 79% of Bitcoin-focused venture capitalists are based in the United States.
American Bitcoin Venture Firms include:
- Early Riders
- Epoch
- Ego Death Capital
- Hivemind Ventures
- Lightning Ventures
- New Layer Capital
- Stillmark
- Ten31
- Trammell Venture Partners
- UTXO
American Bitcoin-focused companies include:
- Casa
- Custodia
- Fold
- Lightning Labs
- Lightspark
- Meanwhile
- NYDIG
- River
- Strike
- Swan
- Unchained
- Zebedee
Another stunning revelation is that the largest number of Bitcoin developers reside in the United States, accounting for 33% of all developers involved with the world’s largest blockchain.
US-based organizations like Chaincode, Spiral, Brink, OpenSats, Human Rights Foundation, and Digital Currency Initiative provide 82% of Bitcoin development funding. Additionally, US organizations fund 4 out of the 5 Bitcoin Core maintainers – entities responsible for supporting the health and ongoing development of the Bitcoin network.
Bitcoin Ownership is Overtaking Gold Among Americans
Bitcoin is emerging as the asset most preferred by Americans, overtaking gold. Until 1971, gold was the primary reserve asset of the US government, with the precious metal backing the value of the US dollar and long serving as a trusted store of value for the population.
While gold remains an important investment asset, Bitcoin’s introduction has somewhat diminished its role as the go-to store of value. Bitcoin has now surpassed gold in ownership among individuals, with an estimated 49.6 million Americans holding BTC, compared to 36.7 million persons owning gold.
On the federal level, the US government’s Bitcoin advantage is twice that of its share of gold reserves. The US accounts for 63.3% of the global government reserves of Bitcoin, while accounting for just 29.9% of the world’s gold reserves. In March, President Donald Trump signed an executive order officially designating Bitcoin as a strategic reserve asset.
Bitcoin Adoption Across the Business Sector on the Rise
Bitcoin is being broadly adopted across America’s business sector, offering merchants and customers distinct benefits not usually found in traditional assets. The cryptocurrency offers businesses unparalleled liquidity, is accessible 24/7, and is beyond the constraints of standard banking hours.
Bitcoin’s fixed supply helps businesses preserve their purchasing power and effectively hedge against inflation. With federal laws supporting self-custody of BTC, the vulnerability of businesses to systemic banking issues has been substantially reduced.
US Federal Policy Favors Bitcoin
Since the approval of spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC) in January 2024, federal policy for Bitcoin has shifted to the positive side, improving investors’ access to Bitcoin, protecting holders’ rights, and integrating Bitcoin within America’s financial system.
Here are some rules and regulations surrounding Bitcoin that have been implemented in the US:
- Executive Order on Digital Assets: President Trump signed an EO on January 23, 2025, explicitly affirming individual rights to use, self-custody, and mine Bitcoin, alongside supporting banking access for Bitcoin companies.
- SEC Repeal SAB 121: The SEC repealed the controversial SAB 121 rule that barred banks from providing Bitcoin custody services.
- Strategic Bitcoin Reserve Executive Order: Signed on March 6, 2025, this EO prohibits the US government from selling its existing BTC holdings and requires the Treasury Department to develop budget-neutral strategies for acquiring Bitcoin.
Meanwhile, some regulations surrounding Bitcoin and crypto assets are still under consideration, such as:
- Responsible Financial Innovation Act: Introduced in Congress in June 2022, this bill surrounds banking, capital gains exemptions, and regulatory oversight for Bitcoin and other crypto assets.
- Blockchain Regulatory Certainty Act: Introduced in 2023, this bill promotes a safe harbor for non-custodial Bitcoin business models.
- BITCOIN Act: The BITCOIN Act, introduced in July 2024, is a framework for the government’s acquisition and management of Bitcoin as a strategic asset.
- Financial Freedom Act: Introduced in April 2025, this bill would allow Americans to invest in Bitcoin through self-directed retirement accounts.
Political Support for Bitcoin is Rising in the US
Bitcoin has gained significant momentum across the US government, with policymakers increasingly recognizing that the crypto asset not only promotes economic growth and long-term prosperity but also aligns with core American values such as individual freedom, open markets, and technological leadership.
59% of Senators and 66% of House Representatives openly support Bitcoin and pro-Bitcoin policies, signalling a notable shift in attitude and greater acceptance of digital assets as key components of the country’s economic future.
36 US states have introduced pro-Bitcoin measures, with a Bitcoin reserve bill under consideration in 24 states. Arizona and New Hampshire have voted in favor of a state-level Bitcoin stockpile, while Bitcoin self-custody protection laws have been enacted in Kentucky, Louisiana, and Oklahoma, and Bitcoin mining and transaction protection laws have been passed in Arkansas, Arizona, Kentucky, Mississippi, Montana, Oklahoma, Pennsylvania, and Texas.
Also Read: What Is New York BitLicense – Crypto Regulation
Conclusion
The analysis made by River, detailed in this article, points to the fact that the United States is a global Bitcoin superpower. As more nations understand the importance of the flagship cryptocurrency and begin designing regulations to oversee its use, encourage Bitcoin mining, and adopt it as a strategic reserve, the US remains far ahead.
China’s ban on Bitcoin mining was a blessing in disguise for the US, as it resulted in the country becoming the biggest hashrate contributor to the network. It also helped shape a new industry that has created unique jobs and has been recognized by the federal government as vital to the country’s energy dominance.
However, as richer nations with sovereign wealth funds, like Saudi Arabia, the UAE, and Norway, increasingly invest in Bitcoin-focused initiatives, America’s lead in the sector is thinning. Under President Trump, the country is moving at light speed to establish itself as the Bitcoin and crypto capital of the world, and lawmakers have started to understand its importance to the world’s largest economy.