Ukraine Gains $400 Million in Bitcoin Investment over 2020

The blockchain analytical platform Chainalysis unveiled in a survey that Ukraine ranks the 10th place worldwide regarding Bitcoin investment gains, as investors bought $400 million in virtual currencies in 2020.

According to the survey, Ukraine reaches similar figures as South Korea, the Netherlands, and Canada on crypto gains. Whereas, the US is still the leading country in estimated realized Bitcoin gains, holding $4 billion in profits over 2020.

Previously, Chainalysis said that Ukraine led the world in crypto adoption and that the country has become the first choice regarding the number of people who use digital money. Furthermore, the country is endeavoring to be a dream jurisdiction for crypto businesses. Legislators and the local crypto community are working closely on making laws that would write crypto into the country’s legal system, open the banks for crypto startups and offer a simple procedure for tax reporting. 

“The data suggests that Bitcoin has given investors in emerging markets access to a high-performing asset, the likes of which they may not have otherwise had access to. On the other side of the coin, it also suggests that countries attempting to limit cryptocurrency usage through harsh regulations are preventing their citizens from taking advantage of the opportunity,” said the survey.