Report Shows San Francisco Home to Highest Crypto Owners in US
By MUSKAN BAGRECHA Posted on 28/03/2020 2 Min read
- A report by CoinTracker revealed that San Francisco has the highest number of crypto owners and it is home to investors with highest average crypto wealth.
A report published by CoinTracker revealed the statistics of cryptocurrency ownership in the United States. The findings have been derived from a cumulative data collection since 2013. As per the report, San Francisco has transcended all the other major cities in the US in terms of crypto ownership with an average portfolio value of USD 55,000. San Francisco is followed by Palo Alto, Oakland and San Mateo with average portfolio size of USD 39,000, USD 35,000 and USD 30,000 respectively. New York ranked sixth with average crypto holdings of USD 23,000.
In terms of concentration of crypto investors, San Francisco topped the list with a user index of 100, followed by New York with 92, Los Angeles with 57.2 and Chicago with 48.8. Ashburn recorded the highest crypto investors on per capita basis.
The report also showed that in the US, as much as 50.3% of the crypto wealth of the investors comprised of Bitcoin (BTC), followed by Ether (ETH) at 28.7% and Tether (USDT) at 4.1%. However, certain cities like San Diego, Nashville, Seattle and Boston, among others, showed that people had a greater capital held in ether as compared to bitcoin.
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Article reposted on Markethive by Jeffrey Sloe
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