TL;DR Breakdown
- The US houses the most crypto users.
- PayPal is a US crypto company.
- The US has CBDC potential.
A brief overview of the history of the US cryptocurrency industry
The cryptocurrency world has continued to expand beyond the US cryptocurrency industry since Bitcoins launch 12 years ago. Crypto can be found across the world.
The US remains the place that has the most Bitcoin users and it has a thriving crypto infrastructure. This comes as no surprise as the US economy and population is so large and so significant.
The US houses the top 500 businesses that people look up to. Most people grow up looking towards the US because it is impossible to not know about the country that started up Mc Donalds, KFC, Apple and so much else.
Naturally, the US is an investors hub and those who are opportunists are going to leap at the chance to invest in crypto because it does reap profitable results. The crypto industry has grown to mean so much more than just being a payment option. Thanks to blockchain the crypto industry has become a place where world-saving inventions are formed.
Using blockchain can store medical records, personal details, trade and so much more. The direction of the crypto world is mysterious and powerful.
The crypto industry is soaring and the US cryptocurrency industry has a gigantic role to play in that.
The US
The US houses the most cryptocurrency endeavours along with a significant amount of exchanges, crypto mining facilities, funds, platforms for trading and blockchain projects. The US cryptocurrency industry has the greatest amount of Bitcoin holders.
Given the size of the US population, having 8% of crypto holders is a significant amount.
Pay Pal
In October, PayPal announced it would let its users spend using cryptocurrencies which were one of the biggest moves in crypto history. PayPal is an American company and it is no surprise that they activated this service. The move that PayPal made was a great step in manifesting the crypto destiny to replace the reserve.
PayPal’s move also highlighted how popular and serious the crypto market is in the US.
More banks in the US are announcing that they are offering crypto services too and the country is speculating launching a CBDC. The newly elected senator for Wyoming, Cynthia Lummis, is a big fan of Bitcoin and her support is demonstrating how there is room for the US to join China which has a digital yuan.
The US is the epicentre of investing so it is no surprise that it houses so many cryptocurrency users. The world seems to watch closely at how America acts before they make their move. The actions of Americans have an effect on everyone.
People are likely opting to adopt crypto because of big names like PayPal and Cynthia Lummis. There is clearly more room for America to grow its CBDC potential but that does not take away from the fact it has big companies and industry leaders rooting for cryptocurrency.
Thanks to the growing support demonstrated by key figures within the US altcoins can continue to rise in popularity.
