To explore how Americans are turning to BTC as a safe haven, NFTEvening partnered with Storible to survey 1,290 Americans via Prolific between April 27 and April 28.

Our survey revealed that 68.21% of Americans have bought Bitcoin since Trump announced the tariffs—a remarkable figure that surpasses gold buyers by 23.77%. This trend underscores a pivotal moment for Bitcoin, positioning it as a modern hedge against economic turmoil.

Furthermore, 71.60% of respondents allocated more funds to Bitcoin than to gold following Trump’s tariff announcements. This data emphasizes Bitcoin’s rising prominence and trust as a protective financial asset compared to traditional safe havens.

Notably, Trump’s tariffs have also motivated new entrants to the crypto market. Approximately 26.23% of Americans reported buying Bitcoin for the first time specifically due to these tariffs, marking a significant inflow of new crypto investors.

Confidence in Bitcoin’s stability is also robust, with 75.62% of Americans viewing Bitcoin as a genuine safe haven. This trust highlights Bitcoin’s growing credibility and perceived reliability, especially in economically turbulent times.

Looking forward, Americans remain optimistic about Bitcoin’s potential. An overwhelming 81.48% indicate they plan to increase Bitcoin investments if the US Bitcoin Reserve Bill passes, reflecting strong anticipation and enthusiasm towards favorable crypto legislation.

Interestingly, Americans also link Bitcoin’s future bullishness directly with Trump’s influence. 75.00% believe that Trump’s policies and actions will propel Bitcoin to new highs, underscoring his administration’s perceived role in crypto market dynamics.

In conclusion, Bitcoin is rapidly emerging as America’s preferred safe haven amid global economic instability. Driven by tariff-induced market anxieties and legislative optimism, Americans are not just turning to Bitcoin—they’re significantly favoring it over traditional assets like gold.

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Key Findings

1. In 2024, 12,834 merchants worldwide accepted cryptocurrency payments, up 50% from 2023.
2. 88% of businesses reported higher revenue after accepting crypto payment.
3. 76% of business owners preferred holding crypto over converting immediately to fiat.
4. Europe had 5,677 businesses accepting crypto payments, leading the world.
5. In 2024, crypto payment acceptance increased the most in El Salvador, adding 686 locations.
6. The most crypto-accepting businesses were in Brazil, with 1,292.

Methodology

To map the global adoption of crypto payments, we collected data from BTCMap.org. Additionally, to gain deeper insights from businesses accepting crypto, we surveyed 1,009 business owners that integrate crypto payment via the Prolific platform. 

Data collection occurred between February 28 and March 7, 2025.

Global Crypto Payment Explosion

Worldwide merchant adoption surged dramatically, growing from 8,571 in 2023 to 12,834 in 2024 – a remarkable increase of nearly 50%. Europe leads the charge, boasting 5,677 locations, followed closely by the Americas with 5,362.

Europe remains the epicenter for crypto payments, with the highest numeric increase in locations (2,029 new locations), emphasizing the region’s openness to crypto-friendly business environments. Yet, the highest percentage growth emerged from Asia (73%), indicating rapidly expanding acceptance.

Europe remains the epicenter for crypto payments, with the highest numeric increase in locations (2,029 new locations), emphasizing the region’s openness to crypto-friendly business environments. Yet, the highest percentage growth emerged from Asia (73%), indicating rapidly expanding acceptance.

Merchants Embrace Crypto for Higher Profits

Businesses embracing crypto payments are reaping significant benefits. A compelling 88.2% of business owners reported increased revenue after introducing crypto payment options. Interestingly, 75.7% of merchants are choosing to retain their crypto earnings as investments, reflecting confidence in crypto’s long-term value.

Top 3 reasons businesses accept crypto include:

1. Faster & Borderless Payments (40.7%) – Businesses recognize crypto’s efficiency in processing international transactions swiftly without traditional financial barriers.
2. Customer Demand (29.8%) – Increasingly crypto-savvy consumers are directly influencing business practices.
3. Asset Accumulation (21.0%) – Merchants aim to accumulate crypto assets.

Regional Leaders in Crypto Payment Adoption

Brazil stands out globally, leading with 1,292 crypto payment locations, underscoring a vibrant Latin American crypto market. The USA and El Salvador closely follow, emphasizing the Americas’ dominant position.

The crypto-payment landscape shows distinct regional leaders.

• Europe: Italy leads with 909 crypto payment locations, followed by Czechia (881), Switzerland (560), Germany (546), and the Netherlands (345), reflecting Europe’s strong integration of crypto payments.
• Americas: Brazil stands out globally, leading with 1,292 crypto payment locations, highlighting Latin America’s growing crypto enthusiasm. The USA (1,088 locations) and El Salvador (1,024 locations) underscore the region’s prominent crypto adoption.
• Asia: Georgia tops with 269 locations, followed by Thailand (171), the Philippines (77), South Korea (55), and Japan (54), showcasing significant growth in Asia’s crypto ecosystem.
• Africa: South Africa dominates with 584 locations, signaling Africa’s rising crypto adoption.
• Oceania: Australia leads with 139 locations, highlighting Oceania’s cautious yet steady integration of crypto payment methods.

Countries Accelerating the Crypto Payment Revolution

El Salvador experienced the most dramatic global growth, tripling its crypto-friendly locations from 338 in 2023 to 1,024 in 2024—a vivid indication of crypto’s transformative potential in emerging economies. Brazil and Czechia also marked significant increases.

Top 5 Countries with the Highest Increase in Crypto Payment Locations, by Continent:

• Europe: Czechia led Europe’s growth with 253 new locations, followed by France, which notably added 209 new locations after having none the previous year.
• Americas: El Salvador saw the highest jump, increasing by 686 locations. Brazil closely followed with an increase of 521 locations.
• Africa: South Africa recorded the highest continental increase, adding 115 new crypto payment locations.
• Asia: Georgia topped Asian countries, adding 146 new locations, with Thailand also notable, adding 109.
• Oceania: Australia had the highest increase, adding 11 new crypto-friendly locations.

Conclusion

The rapid expansion of crypto payment acceptance across continents and individual countries highlights crypto’s undeniable momentum in reshaping global commerce. Merchants recognize not only immediate transactional benefits but also strategic advantages in asset accumulation. As adoption rates soar, especially in emerging economies, crypto payments stand poised to redefine the future of global financial interaction, emphasizing efficiency, inclusivity, and financial innovation.

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Key Findings

• 79% of creditors will reinvest in crypto with their repayment.
• 62% of FTX creditors will buy SOL with their repayment.
• 44% of creditors will reinvest in Solana projects.
• One-third of creditors will invest in memecoins with their repayment.

Methodology

We surveyed 1,016 FTX creditors through Prolific, a widely used online research platform. Participants were eligible only if at least 10% of their portfolio consisted of SOL or if they had held at least $100 worth of SOL for over a year. To maintain data quality, the survey included two attention-check questions, and any invalid responses were excluded from the final analysis.

Since the findings rely on self-reported data, there is a possibility of biases, such as telescoping or exaggeration. It’s important to note that the results presented here reflect participant responses, not our views, and should not be interpreted as investment advice.

The survey was conducted on February 19, 2025.

What FTX Creditors Will Do with Their Repayment

Our survey found that 79% of FTX creditors plan to reinvest their repayments into cryptocurrencies, with an average of 29% of their repayment funds allocated for this purpose.

Solana Tops the Reinvestment Choice

Among the creditors planning to reinvest, 62% intend to buy Solana (SOL), solidifying its status as the go-to choice for recovery-focused investors. Even after the recent LIBRA rug pull and the Meteora scandal, which shook confidence in some Solana-based projects, 44% of creditors plan to reinvest in the Solana ecosystem.

Ethereum follows as the second most popular blockchain for reinvestment. 31% of creditors will allocate their funds to Ethereum projects, while 16% favor the BNB Chain. The remaining 9% plan to explore other ecosystems. 

These results highlight a striking resilience within the Solana community. Rather than retreating after negative headlines, investors see the blockchain’s fundamentals—its speed, low fees, and vibrant ecosystem—as reasons to stay the course.

Memecoins and AI Coins Gain Strong Interest

Interestingly, the survey found that one-third of FTX creditors plan to allocate their repayments toward memecoins. While the momentum for Solana-based memecoins has slowed, investor appetite for bold plays remains strong.

In addition, 31% of creditors are prioritizing AI-related cryptocurrencies, reflecting the broader trend of AI integration across industries. 

FTX creditors Are Buying the Dip

Market conditions also shape how FTX creditors approach their reinvestment strategies. If SOL falls below $145, a striking 71% of creditors say they will either hold or buy more, showing resilience and confidence in the asset’s long-term potential. This highlights how many creditors, despite past losses and current bearish incidents, remain optimistic about Solana’s future.

Conclusion

Despite recent controversies, the survey shows that FTX creditors remain confident in the crypto market as a whole, with Solana standing out as a key focus. The fact that a majority plan to reinvest their repayments demonstrates a broader belief in blockchain technology’s long-term potential. This resilience highlights how market participants view setbacks as temporary, focusing instead on future opportunities. Solana’s ability to maintain investor interest, even after recent challenges, underscores its continued relevance in the evolving crypto landscape.

The post Survey: Nearly 80% of FTX Creditors Will Reinvest in Crypto with Their Repayment appeared first on NFT Evening.

Methodology

We conducted a survey of 1092 Americans using Prolific (a popular online research platform).

The survey included two attention-check questions to ensure participants answered thoughtfully. Any invalid responses were excluded from the final results. As the survey is based on self-reported data, factors like telescoping and exaggeration may impact the responses. 

Please note that the results of this survey do not represent our views, and all information and interpretations in this report should not be considered investment advice.

The survey was conducted on Jan 20th, 2025.

Americans’ Interest in TRUMP and MELANIA Memecoins

The TRUMP memecoin has quickly gained traction, with 14% of Americans investing in it. This surge in interest marks a significant milestone, highlighting the growing appeal of memecoins backed by political figures. Notably, the number of individuals who purchased $TRUMP is three times higher than those who bought MELANIA. This might indicate that Americans are becoming more cautious in their investment choices, preferring to invest in TRUMP, which has garnered more widespread attention and media coverage.

Moreover, 42% of those who bought either TRUMP or MELANIA are first-time crypto buyers. This could signal that these coins are serving as an entry point for many newcomers to the world of cryptocurrency, driven by their political endorsements and perceived novelty.

Profitability of TRUMP and MELANIA Buyers

When it comes to profitability, both memecoins have shown impressive results for their holders. A striking 81% of $TRUMP buyers are currently profitable, indicating a strong demand and positive market response since its launch. This is further backed by MELANIA’s performance, with 86% of its investors reporting profitability. These numbers suggest that both coins have generated substantial returns for their holders, contributing to the overall enthusiasm around political figure-backed crypto assets.

Americans’ Opinion on the TRUMP Memecoin

Despite the financial success of TRUMP and MELANIA coins, there is considerable skepticism about their broader implications. More than half of Americans (55%) believe that Trump and his wife are leveraging their influence to manipulate the crypto market. This sentiment points to concerns about the role political figures play in shaping market dynamics and whether their actions align with the interests of the broader crypto community.

Additionally, nearly 75% of Americans view the TRUMP memecoin launch as negative to the crypto market. These individuals are concerned about the long-term effects of political figure-driven tokens on the industry’s integrity and stability. Among this group, 98% have refrained from purchasing $TRUMP, signaling a clear divide between those who are participating in the trend and those who are wary of its potential risks.

Conclusion

The TRUMP and MELANIA memecoins have made waves in the crypto space, attracting a significant number of first-time buyers and showing strong profitability for investors. However, the public sentiment surrounding these coins reflects concerns over political figure involvement and the broader consequences for the market. As the memecoin trend continues to evolve, it remains to be seen whether these coins will contribute to the mainstream adoption of crypto or if they will fade into the growing list of dead projects that have come and gone in the volatile crypto space.

The post Survey: 1 in 7 Americans Has Bought TRUMP Memecoin appeared first on NFT Evening.

This report by NFTEvening dives into the reasons behind the cryptocurrency market’s explosive growth in 2025. We surveyed over 1000 US-based residents to explore the factors driving crypto adoption, analyze the changing investor sentiment, and examine the evolving landscape of the crypto space.

How many Americans own crypto in 2025?

In 2025, 70% of American adults will own cryptocurrency, which translates to approximately 183 million individuals. The ownership rate has significantly risen from 40% in 2024 to 70% in 2025, indicating a growing acceptance and interest in digital assets among the American population.

Who Uses Cryptocurrency?

Age

Cryptocurrency ownership spans across various age groups. In 2025, Gen Z (aged 18-27) leads with 42.3% ownership, with those below 18 represents only 0.3%. This is followed by Millennials (aged 28-43) at 37.4%. Gen X (aged 44-60) makes up 16.3%, while individuals above 60 years old account for 4.0% of owners.

Gender

In 2025, cryptocurrency ownership is slightly skewed towards males, with 58% of owners identifying as male. Females comprise 41.6% of cryptocurrency owners, and 0.4% preferred not to disclose their gender.

Race/Ethnicity

The racial and ethnic composition of cryptocurrency owners in 2025 is diverse. The majority are Black at 57.9%, followed by White individuals at 34.2%. Hispanics and Asians constitute 3.1% and 3.5%, respectively, while 1.3% preferred not to specify their race or ethnicity.

Cryptocurrency Ownership and Sentiment in 2025

Current Crypto Owners

In 2025, a staggering 96.7% of current cryptocurrency owners continue to hold onto their investments. This demonstrates a strong confidence in digital assets among existing investors.

Bitcoin is the most popular cryptocurrency, with 78.4% ownership among crypto holders. Ethereum is the second most popular, with 40.7% ownership. Other widely owned cryptocurrencies include USDT at 38.9%, Dogecoin at 26.1%, and Solana at 15.9%.

Reasons for Cryptocurrency Adoption

The most common reason for investing in cryptocurrency is the potential for high profits, as mentioned by 78.3% of investors. Diversifying investment portfolios motivates 43.5% of investors, while 34% aim to protect against inflation. Achieving financial independence from government regulations is a goal for 27.4%. 

Additionally, 37.2% believe in the future potential of blockchain technology, while a smaller percentage invest out of curiosity or fear of missing out (FOMO).

Non-Crypto Owners

The future of cryptocurrency looks promising, with 13.6% of non-owners planning to enter the market by the end of 2025. While 52.8% of non-owners considering buying cryptocurrency at some point in the future, 33.6% of non-owners indicate they have no plans to invest in cryptocurrency.

Concerns Preventing Cryptocurrency Adoption

Several factors deter non-owners from entering the cryptocurrency market. The top concern is insufficient knowledge, reported by 51.5% of respondents. 

Fear of losing money affects 48.2%, and security risks such as hacking or scams are significant barriers for 39.2%. Other concerns include price volatility at 33.6% and a lack of government or banking protection at 26.6%.

How did the Bitcoin storms above $100K affect crypto investors?

The surge of Bitcoin’s price to $100,000 has significantly influenced investor behavior. Among non-crypto owners, 43.5% stated that this milestone made them more interested in investing in cryptocurrency.

Bitcoin’s rise influenced the investment decisions of 67% of all investors. Among this group, 26% began investing in cryptocurrency for the first time because of this price surge. 

Additionally, 29.2% of investors chose to increase their existing investments. However, some investors decided to cash in; 11.6% sold a portion of their Bitcoin holdings, and 0.4% sold all their Bitcoin. Still, 32.8% of investors reported that the price rise did not affect their investment choices.

Financial Gains from Bitcoin’s Rise

A large number of investors, 89.2%, have seen their profits increase because of the rise in Bitcoin. Among these investors, 62% have reported that their earnings grew by at least 50%. This shows that many people have made significant gains due to the increase in Bitcoin’s value.

When looking at how much their earnings grew, the results are varied. Around 37.68% of investors said their earnings increased by less than 50%. Another 28.46% of investors saw their earnings grow between 50% and 100%. 

About 19.87% of investors experienced an earnings increase of 101% to 200%. Finally, 13.99% of investors reported a huge increase, with their earnings growing by more than 200%.

Investor Sentiment on the 2025 Crypto Market

Only 32.9% of investors believe that altcoins will outperform Bitcoin in 2025. The majority, 67.1%, do not think that altcoins will surpass Bitcoin in terms of performance during the upcoming year. This shows that most investors are still confident in Bitcoin’s dominance in the market.

Top Narratives Driving the Crypto Market in 2025

According to investor sentiment, the Bitcoin ETF is seen as the top narrative with 48.4% of investors anticipating it to have the most impact. Following closely are the Gaming & Metaverse sector with 36.6%, and Memecoins with 34.5%. These three areas are expected to drive the market’s growth and attention in this year.

Interestingly, AI ranked only 5th with 24.7%. Despite the growing interest in artificial intelligence, it seems that investors believe other narratives are more likely to push the crypto market forward in 2025.

Here is a breakdown of the main narratives investors believe will shape the crypto market in 2025:

Most investors believe certain factors will boost the crypto market in 2025. The majority, 72.5%, think that continued Bitcoin price surges will have a major positive impact. 

Increased crypto adoption is also a key factor, with 57.7% of investors expecting it to drive growth. Additionally, 41.4% of investors believe that pro-crypto regulation under a potential Trump administration could help the market.

Methodology

The findings in this report are based on a survey of 1,006 Americans conducted in December 2024. The survey analyzed how many people own cryptocurrency, their demographics, and the reasons behind their choices. The report uses clear numbers and patterns to explain how crypto has become more mainstream. Data collected by Security.org from 2023 and 2024 was also used to compare trends over time. 

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We explore how Bitcoin’s value affects property affordability and look at regions that accept Bitcoin for property transactions. Additionally, the report discusses possible changes in property costs if Bitcoin’s value rises. By analyzing the average BTC needed for properties, we aim to provide a clear understanding of the global real estate market’s use of cryptocurrency.

Our Methodology

For this analysis, we used a Bitcoin-to-USD exchange rate of $100,000 per BTC. The average property size is set at 70 square meters, equivalent to a typical two-bedroom apartment.

We based the property prices on average apartment costs from the Numbeo database. To calculate prices in Bitcoin, we divided the property price in USD by $100,000. This approach provides a simple way to estimate how much Bitcoin you need to buy properties worldwide.

Property Prices in Bitcoin by Continent

In Africa, buyers need just 1 BTC on average to purchase a standard property, making it the most affordable continent. South America follows closely at 1.2 BTC, while Asia offers excellent value at 2.5 BTC per property.

Europe and North America require moderate investments, averaging 4 BTC and 3.5 BTC, respectively. Oceania is the most expensive region, with average property prices reaching 12 BTC, driven by high demand and limited availability.

The Cost of Property in Bitcoin Around the World

Hong Kong has the highest property prices in Bitcoin, requiring 19.15 BTC on average for a standard property. It is followed by Singapore at 15.12 BTC and Switzerland at 11.65 BTC, showcasing the premium cost of living in these luxury markets. South Korea ranks fourth with properties priced at 8.34 BTC, while Luxembourg closes the top five at 7.58 BTC.

Among popular countries, Australia averages 4.73 BTC per property, making it more affordable than other high-end locations. Canada and the United Kingdom offer similar affordability, with properties priced at 4.86 BTC and 4.30 BTC, respectively. Surprisingly, the United States, ranked 39th, is significantly cheaper, requiring just 2.53 BTC per property on average.

This discrepancy highlights how property prices vary even among developed nations. While Hong Kong and Singapore demand nearly 15-20 BTC, the U.S. provides a more economical option for crypto investors.

Top 5 Luxury Cities

Hong Kong is the most expensive city, requiring 19.14 BTC for a standard property. Its limited space and status as a global financial hub drive high prices. 

Singapore follows with 15.12 BTC. Bern ranks third with over 11.65 BTC, reflecting Switzerland’s wealth and stability. Seoul and Luxembourg complete the list, offering luxury properties in economically strong regions.

Top 5 Mid-range Cities

Tokyo is the top mid-range city, requiring approximately 4.66 BTC for property purchases. Berlin, a major tech and cultural hub, follows at 4.21 BTC. 

Dubai, renowned for its luxury lifestyle, balances mid-range affordability at 3.89 BTC. Bangkok offers attractive prices at 2.76 BTC, while Brooklyn provides one of the more affordable entry points in the U.S. real estate market at 2.53 BTC.

Top 5 Affordable Cities

Hanoi tops the affordable list, requiring just over 2 BTC for properties, making it an ideal investment destination in Vietnam. Kuala Lumpur and San Salvador follow closely, with property prices averaging around 1.42 BTC. 

Mumbai’s cost-effectiveness is reflected in its 1.23 BTC requirement, while Rio de Janeiro offers the most affordable option at just over 1 BTC, making Brazil a highly attractive market for crypto investors.

Bitcoin’s Rising Value and Real Estate Purchasing Power

If Bitcoin’s price rises to $150,000, the number of bitcoins needed to buy the same property would decrease. For example, a property costing 10 BTC today (at a lower BTC price) would require only about 5 BTC if Bitcoin’s price increases to $150,000. This rise in Bitcoin’s value could make it easier for BTC holders to purchase real estate, as they would need to spend fewer Bitcoins for the same asset.

Countries Embracing Bitcoin for Real Estate Transactions

Several countries now accept Bitcoin for property purchases. In the United Arab Emirates, particularly in Dubai and Abu Dhabi, developers and real estate agents facilitate Bitcoin transactions, supported by crypto-friendly regulations and a rapidly expanding economy.

Portugal, known for its favorable tax policies, exempts individuals from capital gains taxes on cryptocurrency, boosting crypto-based property transactions, particularly in Lisbon. 

Cities like Miami, Los Angeles, and New York have seen property sales conducted using cryptocurrencies. For example, a luxury Miami penthouse sold for $22.5 million in cryptocurrency in 2022, marking one of the largest blockchain property sales globally. 

As the first country to adopt Bitcoin as legal tender, El Salvador allows its citizens to use Bitcoin for various transactions, including real estate. However, adoption rates remain relatively low, with only 7.5% of the population using Bitcoin for transactions.

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This study dives into the wealth of these crypto billionaires, examining how their net worth has changed from the impact of Bitcoin’s surge. In particular, we analyzed the top crypto billionaires in terms of net worth, their sources of wealth sources, and their countries. Additionally, this study highlights the rapid growth in the number of crypto millionaires and billionaires.

How Many Crypto Billionaires Are There in the World?

According to the Crypto Wealth Report from Henley & Partners, the world has seen significant growth in crypto wealth. The number of crypto billionaires climbed by 27% over the past year, reaching a total of 28. Bitcoin billionaires have experienced even more substantial growth, with their number rising by 83% to 11. 

The number of crypto millionaires saw a large increase, growing by 95% in 2024. This is slightly less than the 111% rise in Bitcoin millionaires, reflecting how the surging price of Bitcoin continues to drive wealth creation. With Bitcoin’s price exceeding $100,000, owning less than 10 bitcoins is now enough to make someone a crypto millionaire.

Which Country Has the Most Crypto Billionaires?

The United States leads in crypto wealth, with two-thirds of all crypto billionaires based there. This dominance reflects the country’s strong influence in the crypto industry, including major exchanges, blockchain innovation, and investment.

Notable crypto billionaires from the United States include Brian Armstrong, Michael Saylor, Chris Larsen, and the Winklevoss twins, Tyler and Cameron.

Countries like Italy and Canada also contribute significantly to the billionaire list, with figures like Giancarlo Devasini, Paolo Ardoino, and Stuart Hoegner.

Here is a list of notable crypto billionaires and their countries:

How Much Do Crypto Billionaires Gain After Bitcoin Surge?

The Bitcoin surge in 2024 has significantly increased the wealth of the world’s top crypto billionaires. Collectively, their net worth grew by $50.8 billion, marking a 79.25% increase between March 2024 and December 2024.

Changpeng Zhao, founder of Binance, saw the largest dollar increase in wealth. His net worth rose from $33 billion in March to $67.8 billion by December, adding $34.8 billion, a 105.45% growth.

The net worth of the 3 largest gainers all increased more than double compared to March 2024.

Meanwhile, Chris Larsen, co-founder of Ripple, experienced the highest percentage increase. His net worth surged by an impressive 159.38%, jumping from $3.2 billion to $8.3 billion over nine months.

Here are the breakdown of top crypto billionaire gainers:

Who Are the Richest Billionaires Now?

Changpeng Zhao, founder of Binance, is the richest crypto billionaire with a net worth of $67.8 billion. His wealth is more than 3.5 times that of the second-richest crypto billionaire, Brian Armstrong, whose net worth stands at $14.9 billion.

Zhao is also the second-youngest billionaire globally, after Mark Zuckerberg, with a net worth exceeding $60 billion.

Other notable figures include Michael Saylor of MicroStrategy, with a net worth of $10.7 billion, and Giancarlo Devasini of Tether, who holds $9.2 billion. Ripple’s Chris Larsen is also among the top, with a net worth of $8.3 billion.

Tether plays a significant role in the crypto billionaire landscape, accounting for one-third of the top list. However, Tether-related billionaires, such as Giancarlo Devasini, Jean-Louis van der Velde, and Paolo Ardoino, did not see significant additions to their wealth in 2024, indicating a relatively stable performance.

Our Methodology

Our data collection focuses on identifying billionaires whose primary source of wealth is derived from cryptocurrency. We rely on the Forbes tracking database to gather detailed information about their net worth. The methodology involves comparing and calculating both real-time data (as of December 5, 2024) and previously recorded data (from March 8, 2024). Some billionaires were not included in our report as their data was incomplete.

Fair Use Statement: Please feel free to share our insights. However, we kindly ask that you include a link back to this research, allowing readers to explore all related details and ensuring our contributors receive appropriate recognition.

The post How Much do Crypto Billionaires Gain After Bitcoin Surge to $100K? appeared first on NFT Evening.

Key Insights

• BTC reaching $100K created 14,211 new BTC millionaires and 4 new billionaires.
• BTC Investors Become Millionaires 22x Faster Than Stock Investors
• BTC Investors Become Billionaires 1,064x Faster Than Stock Investors

BTC Reaching $100K Created

• 14,211 New BTC Millionaires
  The landmark price of $100,000 has brought substantial financial rewards to early adopters, with over 14,000 new millionaires joining the ranks. These individuals saw their investments multiply exponentially, proving Bitcoin’s wealth-generation prowess.
• 4 New BTC Billionaires
  In addition to millionaires, Bitcoin’s meteoric rise has minted four new billionaires. This elite group underscores Bitcoin’s potential to create generational wealth in a fraction of the time taken by traditional investments.

BTC Investors Become Millionaires 22x Faster Than Stock Investors

The speed at which Bitcoin creates wealth far outpaces traditional investments like stocks:

With an investment of just $4,000, Bitcoin investors typically take 3,775 days (~10.3 years) to reach millionaire status. This translates to an impressive 250x return on investment (ROI). On average, these investors began buying BTC in 2010 and achieved their first $1 million milestone by 2020.

Investors who put the same amount into blue-chip stocks would see their portfolio grow to only $45,000 during the same period.

BTC Investors Become Billionaires 1,064x Faster Than Stock Investors

The gap widens further when comparing the timeline for becoming a billionaire:

With an investment of just $30,500, Bitcoin investors typically take 4,645 days (~12.7 years) to achieve billionaire status. This translates to an impressive 32,787x return on investment (ROI). On average, these investors started buying BTC in early 2011 and hit their first $1 billion milestone by the end of 2023.

In comparison, investors who allocated the same amount to blue-chip stocks would see their portfolio grow to only $950,000 during the same period. This means that by the time Bitcoin investors become billionaires, stock investors are merely reaching their first $1 million milestone.

Bitcoin’s Performance Outshines even the Largest Stocks

When comparing BTC returns to the top 10 largest stocks by market cap:

From 2010 – 2020:

• BTC delivers 20x the returns of Apple.
• BTC delivers 9x the returns of Nvidia.
• BTC delivers 4x the returns of Tesla.

From 2010 – now:

• BTC delivers 76,378x the returns of Apple.
• BTC delivers 6,062x the returns of Nvidia.
• BTC delivers 9,103x the returns of Tesla.

Methodology

We used Dune Analytics to calculate the number of new millionaires/ billionaires when BTC reached 100K.

To compare the performance between BTC and stocks:

1. Identify wallets with >1M in BTC: We first collect 17,129 wallets holding more than $1M in Bitcoin. 
2. Filter wallets: 
   • Exclude wallets with an initial balance of over $1 million to analyze those who built their wealth over time.
   • Exclude wallets that invested more than $100K in BTC to concentrate on retail investors rather than whales or institutional players.
3. Track wallet milestones: For each wallet, we record:
   • When it first received Bitcoin.
   • When it first reached $1 million worth of Bitcoin.
4. Calculate time and investment: Using these milestones:
   • We calculate how long it took for the wallet to hit $1 million.
   • We estimate their total Bitcoin investment by adding up the USD value of all BTC received.
5. Compare to stock investments: We then calculate how much an investor would have earned if they invested the same amount in the top 10 largest stocks (by market cap) over the same period.

Data sources: bitinfocharts.com, TradingView.

Data was collected and analyzed on December 5th, 2024.

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To determine whether crypto-related jobs actually pay more than other fields, NFTEvening analyzed 1169 jobs that are related to crypto/blockchain. We then found some notable trends in salary and demand in the job market, which was recorded in this report.

Methodology

The data for this report was collected using various sources and methods to ensure accuracy. We used keywords such as “crypto”, “cryptocurrency”, and “blockchain” to gather information from related job posts on LinkedIn. The analysis focused on U.S.-based job postings. Data fields collected from each listing included the job title, salary, state, experience level, remote work options, job function, and required skills.

Information about other jobs, including tech roles, was sourced from the U.S. Bureau of Labor Statistics. For tech jobs, only positions under the “Computer and Mathematical Occupations” category were considered for comparison.

The data for AI-related jobs was obtained from Bizreport, which involved crawling and analyzing job postings from eight of the most popular job boards.

Crypto-related Job Salary Overview

Salary Comparison between Crypto and Other Occupations

Crypto jobs offer extreme high pay among many industries. Compared to regular jobs, salaries in the crypto sector are 152.84% higher. Even compared to tech jobs, crypto employees earn 46.31% more, while they make 15.86% more than AI professionals.

Average Salary by Seniority

Experience makes a big difference in how much people earn in the crypto industry. Entry-level positions start at $124,462, while mid-level roles average $176,771. Senior-level professionals earn even more, with salaries reaching $217,114.

Regional Analysis: Crypto Jobs in the U.S.

Average Salary by States

Among the 29 states collected, California has the highest average wage for crypto jobs with over $184,945 a year. Meanwhile, Minnesota has the lowest average wage at $86,669, meaning that the pay gap between the best-paying state and the worst-paying state is 113.4%.

Top 10 Highest Paying Jobs by U.S. State

States like New York, California, and Georgia offer the highest-paying crypto roles. Positions like Quant PM in New York can reach $1 million annually, while senior roles in California and Georgia also offer salaries above $180,000.

Top 10 States with Highest Job Demand

New York leads the crypto job market, with 23.87% of all job postings originating from the state. California follows closely with 21.90%, making these two states the dominant hubs for crypto careers. Texas, Washington, and Maryland complete the top five, but their shares are significantly smaller compared to New York and California.

Crypto Jobs by Workplace

Remote work is highly popular in the cryptocurrency industry, with 43.28% of job posts allowing employees to work from home. These remote jobs pay an average of $173,359.44, slightly less than hybrid roles at $175,642.56.

Crypto Roles Breakdown

Key Roles in the Crypto Job Market

IT and engineering roles are at the core of the crypto job market, making up 43.46% of postings. Analysis and research positions follow at 17.62%, while business development roles account for 10.35% of job openings.

Most Popular Positions in IT & Engineering

The most in-demand role in the crypto industry is Software Engineer, offering an impressive average salary of $209,106 per year. This figure is 78.49% higher than the average income of software engineers in the United States, as reported by Glassdoor (November 20, 2024).

Other key positions include Blockchain Developer, Back End Developer, Protocol Engineer, and Security Engineer, each catering to the industry’s technological needs.

Highest-Paying Roles

The crypto industry offers some of the most competitive salaries, especially in leadership roles. Among the six primary categories, Analysis & Research leads the way, with top positions earning an average of $241,459 annually.

Finance & Accounting is the second-highest-paying category, with lead positions averaging $221,936 per year. IT & Engineering roles also offer strong compensation, averaging $198,288 annually, reflecting the high demand for technical skills in this industry.

Other non-tech categories including Management & Operations, Business Development, and Marketing & Communications are also well-paid.

Best-Paying Positions by Role

Leadership roles in the crypto industry come with substantial financial rewards. The Quant PM – Digital Assets position in Analysis & Research offers the highest earnings, potentially reaching $1 million annually in top locations. Similarly, the Vice President of Engineering in IT & Engineering can earn upwards of $400,000 per year.

Business Development and Finance also feature high-paying roles, with the Vice President of Sales earning around $565,000 and the Chief Financial Officer averaging $500,000 annually.

The post Crypto Jobs Pay 153% More Than Other Occupations Including AI appeared first on NFT Evening.

Key Insights:

1. 98% of 2024 NFT drops are dead.
2. Only 0.2% of 2024 NFT drops return profits to investors.
3. 64% of 2024 NFT drops have fewer than 10 mints.
4. 98% of 2024 NFT drops have fewer than 10 trades in the first week.
5. In 98% of 2024 NFT drops, the price falls by at least 50% within the first three days.
6. 84% of 2024 NFT drops have ATH price equal to mint price.

Methodology

Data sources: Dune Analytics and OpenSea.

1. First, we collected distinct NFT contracts from Dune that had minting activities between 01 January 2024 and 31 August 2024. There were 29,079 collections in total. We then double-check the data using the OpenSea API to ensure its accuracy.
2. Next, we used Dune Analytics to crawl and analyze:

• The mint price, the ATH price, the current price, and the price three days after the minting process have all been concluded.
• 7D minting volume, 7D trading volume, and trading volume from September.

Oversaturation of the Market

So far in 2024, an average of 3,635 NFT collections have been created per month. While this shows that creators are still eager to launch projects, the sheer volume of collections indicates an oversaturated market. The supply has grown far beyond demand, leaving many projects to struggle for attention and buyers.

98% of the 2024 NFT Drops Are Dead

We define death as the absence of trading activity since September 2024.

Based on this, we can conclude that: 98% of 2024 NFT drops are dead.

This demonstrates how quickly projects fail, resulting in many collections lacking liquidity, community, or trading activity. The survival rate for new drops is shockingly low, indicating 0that most NFTs struggle to stay relevant shortly after launch. 

When we dig deeper into these three numbers: minting, trading, and price, the situation worsens.

Low Minting and Trading Activity

Despite the high number of new collections, 64% of 2024 NFT drops have fewer than 10 mints. This stark figure highlights the difficulty that most creators face in getting their projects off the ground. Additionally, 98% of NFT drops have recorded fewer than 10 trades within the first week. The limited trading volume points to a lack of excitement or investor confidence in these projects.

Such low engagement suggests that many collections are failing to resonate with audiences, possibly due to a lack of uniqueness, utility, or perceived value. The fast-moving NFT trend may have left creators competing in an overcrowded marketplace where distinguishing themselves has become an uphill battle.

Rapid Price Decline

One of the most alarming trends in 2024 is the swift depreciation of NFT values after launch. 98% of 2024 drops follow the same pattern: the price falls by at least 50% in the first three days. 

This sharp drop reflects the waning buyer enthusiasm and the absence of long-term interest in holding these digital assets.

Moreover, 84% of 2024 NFT drops have seen their all-time high price equal to their mint price, meaning they never appreciated in value. In a market where speculative trading once reigned, this trend suggests that buyers are either losing confidence or becoming more selective in the projects they support.

Only a Small Fraction Brings Returns

In 2024, just 0.2% of all NFT drops have generated profits for investors. Even among NFTs that are still actively traded (“alive” NFTs), only 11.9% have proven profitable, reflecting the overall difficulties faced by most projects. These figures reveal how selective and cautious investors need to be, as the vast majority of NFTs struggle to retain or grow their value, making profitability a rare outcome in the current market landscape.

What Does This Mean for the Future?

The data paints a clear picture: while NFTs continue to be a vibrant space for innovation, the market is currently flooded with projects that struggle to find traction. With oversaturation, low minting rates, and poor price performance, creators may need to rethink their strategies, focusing on building community and offering real utility to stand out.

The post State of 2024 NFT Drops appeared first on NFT Evening.

Our recent survey aimed to find out whether people are staying or leaving the NFT market and the main factors influencing their decisions. This research report presents the key findings of this survey, exploring why some investors continue to hold on to their NFTs, why others are exiting, and what the future might hold for the NFT market.

2 Out Of 3 Investors Plan to Continue Holding NFTs

Even though there are significant challenges facing the NFT market, a large number of investors remain committed. Despite reports that 96% of NFTs are considered “dead” (meaning they have little or no activity or value), 66.5% of NFT holders plan to stay in the market, while the rest are planning to leave the market.

Among those who choose to stay in the NFT market, 67.3% of investors believe that the growth of NFTs will be driven by positive market sentiment and increased adoption. Those are confident that NFTs have long-term potential and will continue to expand as more industries adopt the technology.

A significant portion, 36.7%, see positive market sentiment as a key factor, while 30.6% point to the growing use of NFTs across various industries as a reason for their optimism. Additionally, 19.6% are excited about upcoming NFT projects, and 13.2% believe that new regulatory developments will further support the market’s growth.

Among those planning to leave the NFT market, 65.5% of investors intend to sell all their NFTs before making their exit. This reflects a desire to fully liquidate their assets, with 65.5% committed to selling everything, 22.33% planning to sell only part of their NFT collection, and 12.14% choosing to hold onto their NFTs, possibly in hopes of future gains despite their exit.

Furthermore, 72.3% of these investors plan to leave the market by 2026, indicating a clear timeframe for their departure. Of this group, 36.4% aim to exit within 2024, and 35.9% in 2025, while 27.7% remain undecided, potentially waiting for market conditions to improve before finalizing their decision. This suggests that while many have lost confidence, some are still weighing their options before fully leaving.

Reasons Investors Still Stay With NFTs

For 56.97% of NFT holders, profit is the primary factor influencing their decision to remain invested in the market. Other motivations, while less common, also play a role in keeping investors engaged. About 19.8% of holders stay because of the practical utility and benefits NFTs offer, such as rewards or exclusive access to events.

Meanwhile, 10.76% of investors are motivated by a desire to support the NFT community, finding value in shared interests and connections. Lastly, 12.47% of holders continue investing due to their interest in NFT art.

Earning Profits from NFTs

Among those who focus on earning profits, most NFT holders make money through a few key methods. About 42.1% engage in flipping NFTs, where they buy low and sell high. Another 37.3% earn profits from utility benefits, such as in-game rewards or digital assets, while 29.6% benefit from airdrops—free NFT distributions.

Additionally, 29.2% of investors create and sell their own NFTs, and 22.7% choose to hold their NFTs (HODL) with the hope of future value increases.

Among the investors focused on earning profits, 80.7% are holding their NFTs to achieve long-term profits. In contrast, only 19.3% are aiming for short-term gains, indicating that the majority of investors are willing to wait for the market to mature and deliver returns over a longer period.

Among people who choose long-term profits, 32.4% intend to invest in NFTs for at least three more years. Meanwhile, 31.4% expect to hold their assets for one to three years, and 3.2% for less than a year, while 31.4% are undecided about their holding time.

Among these, when NFT prices drop, 69.68% of long-term investors choose to hold their NFTs and wait for the market to recover, showing their resilience and confidence in the market’s future. Meanwhile, 12.77% opt to sell a few of their NFTs during such downturns, and 16.49% take advantage of the dip by buying more NFTs.

Only a small fraction, 1.06%, decide to sell all their NFTs in response to falling prices. This behavior suggests that long-term investors are less sensitive to short-term market changes and are more likely to remain invested.

On the other hand, short-term investors have different strategies. About 42.2% said they would sell their NFTs and leave the market once their profits exceed 20%.

Within this group, 6.7% aim for a profit margin of 10-20% and 28.9% hold out for more than 50%. Meanwhile, 22.2% don’t have a specific profit goal, instead deciding based on market conditions. These short-term investors are more likely to exit the market as soon as NFT prices rise to meet their expectations.

NFT Utility & Benefits

Among those who prioritize NFT utility & benefits, airdrops emerge as the most significant factor, with 48.1% of investors indicating that the potential for receiving free NFTs contributes to their commitment to the market.

Additionally, 35.8% of investors value blockchain game items, which enhance their gaming experiences, while 43.2% appreciate exclusive perks and access that come with certain NFTs. Furthermore, another 35.8% of respondents recognize the appeal of real-world assets linked to NFTs, which can add tangible value to their digital investments.

Supporting The NFT Community

For those who prioritize supporting the community, a shared interest in NFTs and related projects is the main reason for 49.3% of investors to join NFT communities.

Additionally, 35.2% value making connections with like-minded people. Furthermore, 15.5% are drawn to these communities for updates on news and events in the industry. This shows how being part of a community helps investors connect with others who have similar interests.

Interest in NFT Art

A love for artwork design drives 47.2% of investor’s interest in NFTs. Supporting favorite artists is a reason for 11.1% of these investors, while 41.7% are attracted to the uniqueness of certain pieces. This interest highlights how artistic appeal plays a significant role in attracting investors to the NFT art market.

Reasons Investors Want to Leave NFTs

Approximately one in three investors considers exiting the NFT market because of falling prices, with 33.5% citing this as their main reason.

Additionally, 13.6% of investors feel discouraged by the lack of utility in NFTs, while 12.1% point to the failure of major projects as a concern. Furthermore, 17% are worried about the rise in scams and fraud, and 23.8% have simply lost interest in NFTs.

Loss of Interest in NFTs

Of the people who have experienced a “Loss of Interest”, 55.1% feel that the excitement around NFTs has faded away. Many believe that the initial buzz is no longer present, leading to a decline in their enthusiasm.

Additionally, 16.3% of investors think that the projects currently available are not innovative or creative enough. As a result, 24.5% of them are exploring other areas that capture their interest more. Only 4.1% cited other reasons for their lack of interest in NFTs. This trend shows how important ongoing innovation is to keep investors engaged in the NFT market.

Increasing Scams and Fraud

When it comes to worries about NFT scams, over half of the respondents (57.1%) have not encountered any scams or fraud in the past six months; they have only heard about others experiencing these issues. Meanwhile, 20% reported being involved in one scam, and 14.3% experienced two to three scams.

Additionally, 8.6% said they faced more than three scams. While most investors have not personally experienced fraud, the awareness of these risks can impact their overall confidence in the NFT market.

Lack of Utility in NFTs

For those who feel that NFTs lack utility, real-world assets are the most appealing benefit. About 71.4% of investors said that the connection to real-world items would encourage them to stay involved with NFTs.

Other factors also play a role, with 42.9% appreciating exclusive perks and access, 35.7% interested in potential future airdrops, and 28.6% attracted to blockchain game items. This highlights that practical benefits are crucial for maintaining investor interest in NFTs.

Failure of Major NFT Projects

Of those people who are concerned about the failure of major projects, 44% of investors reported that more than half of the projects they invested in have failed.

Specifically, 36% said that between 30% and 50% of their investments did not succeed, while 12% experienced failures in 10% to 29% of their projects. Only 8% reported that less than 10% of their investments failed. This indicates a significant concern among investors about the reliability and success of NFT projects.

Methodology

We conducted a survey with 943 cryptocurrency owners to gather insights about their experiences with NFTs.

In terms of age, 31.2% of our respondents are aged 12 to 27, which falls under Generation Z, while 52.5% are aged 28 to 43, representing the Millennial generation. Additionally, 12.9% are between 44 and 59 years old, known as Generation X, and 3.4% are over 60.

Regarding gender, 36.7% of the participants identify as female, 62.7% identify as male, and 0.6% prefer not to disclose their gender.

Geographically:

• 42.2% are from the Americas (North, South, Central America, and the Caribbean)
• 11.9% are from the Asia Pacific (Central & South Asia, Northeast and Southeast Asia, Australia, and Oceania)
• 20.9% are from Europe
• 25% are from the Middle East and Africa

When asked about NFT ownership, 65.2% of respondents confirmed that they currently own NFTs. In terms of how long they have owned NFTs, 14.1% have held them for less than one year, 36.4% have owned them for one to two years, 29.4% for two to three years, and 20% have owned NFTs for over three years.

The post Poll: 66.5% of Investors Are Still Buying NFTs, despite the Falling Market appeared first on NFT Evening.

Our recent survey of 1,010 Americans highlights this growing trend. The survey reveals that nearly half of Americans plan to give cryptocurrency as a gift this holiday season. This research article will explore the findings from the survey, including why crypto is becoming a popular gift choice and which types of digital assets are most favored.

Key Findings

• 48.7% of Americans plan to buy crypto-themed gifts for family and friends this holiday season.
• Millennials, at 40.2%, are the leading age group buying crypto gifts this holiday season, with Gen Z closely behind at 39.6% and Gen X at 20.1%.
• 48.5% of Americans already owned some types of cryptocurrency.
• 3 out of 4 people choosing crypto-themed gifts plan to give Bitcoin or Ethereum as their gift.
• 45.5% of Americans think that crypto would be a perfect gift for occasions beyond the holiday season, such as birthdays and anniversaries.
• Receiving a crypto gift makes 39% of Americans more likely to start investing in crypto over the next year.

Crypto Gift Awareness

Giving cryptocurrency as a gift has become a significant trend this holiday season.

According to the survey, 48.7% of Americans said they would consider giving cryptocurrency a gift. Millennials lead the way in buying crypto gifts for their loved ones this holiday season, making up 40.2%. While Gen Z follows closely at 39.6%, and Gen X accounts for 20.1%.

This indicates that both Millennials and Gen Z have a greater understanding of blockchain technology and are eager to explore new platforms, even gifting cryptocurrency to their loved ones.

The survey also examined the current ownership of crypto among participants, revealing that 48.5% of respondents already owned some form of cryptocurrency. 

Popular Types of Crypto Gifts People Prefer to Buy

The types of crypto gifts vary, but the most popular choices are Bitcoin and Ethereum. These two digital assets dominate the market, with 74.5% of people selecting BTC and ETH as their preferred crypto gifts.

About 33.3% of respondents said they would give NFTs, which include digital art, game tokens, and collectibles like NBA Top Shot. Coin vouchers, which allow recipients to choose their own cryptocurrency, are also popular, with 20.5% of people favoring them.

Additionally, some respondents prefer gifting hardware wallets (12.1%), which help store cryptocurrency securely. Other popular choices include crypto merchandise (14.4%), crypto courses (13.4%), and even premium trading memberships (6.5%).

Attitudes Toward Crypto-related Gifts

The survey also explored how people feel about receiving cryptocurrency as a gift. About 25.8% of Americans think that giving cryptocurrency is a great idea. Of those who do not own cryptocurrency, 14% said they would hold onto the digital asset if they received it as a gift. While 22% said they were not interested and would have preferred something else.

This split in opinions highlights that while many are excited about crypto gifts, some are still unsure about the value of digital assets.

Interestingly, 18.4% of current crypto holders were enthusiastic about receiving more cryptocurrency as a gift. They view it as an exciting and valuable present. On the other hand, 22% of respondents said they would have preferred a traditional gift, showing that there are still mixed feelings about digital gifts in general.

Crypto Gift Expectation: Ideal Gift or Just Digital Asset?

While the holiday season is a popular time for giving gifts, the survey revealed that cryptocurrency can be a suitable present for other occasions too. 

More than 45.5% of respondents said they believe cryptocurrency would be a great gift for birthdays, anniversaries, or other celebrations.

This shows that digital assets are not just a passing trend but are becoming an integral part of the gift-giving culture.

Millennials and the Future of Crypto

The survey highlights that Millennials are the most likely generation to invest in cryptocurrency in the coming year.

About 16% of Millennials said they plan to invest in digital currencies, compared to 8% from older generations like Gen X. Gen Z is also not far behind, with 14.7% of them likely to invest.

This shows a clear trend that younger generations, particularly Gen Z and Millennials, are more open to adopting cryptocurrency. Additionally, younger generations are embracing innovative financial solutions, while older generations are more cautious.

The overall investment outlook is positive as well. Around 39% of US citizens stated they are likely to invest in the crypto market in the near future. This includes both seasoned crypto users and newcomers who are interested in the potential gains that digital currencies can offer.

These findings suggest that digital currencies are not just a passing trend but are set to become a permanent feature of the financial landscape.

Conclusion

The survey questions focused on key aspects of cryptocurrency gifting, including the likelihood of gifting crypto during the holiday season, preferred types of crypto gifts, and attitudes toward receiving digital assets as gifts. By analyzing these responses, the survey provided valuable insights into the growing trend of crypto gift-giving among Americans.

Methodology

This study was conducted through a survey involving 1,010 Americans to understand their opinions and behaviors regarding cryptocurrency as holiday gifts. The participants were carefully selected to represent various age groups, ensuring diverse perspectives on the subject.

The survey included individuals from three main age categories: 18 to 32 years (Gen Z), 33 to 43 years (Millennials), and 44 to 59 years (Gen X). Millennials made up the largest portion of the respondents at 43.1%, followed by Gen Z at 38.4%, and Gen X at 18.5%.

The gender distribution of the participants was also balanced, with 54.3% identifying as female, 44.6% identifying as male, and 1.2% preferring not to specify their gender.

The post 48% of Americans would Buy Crypto Gifts This Holiday Season appeared first on NFT Evening.

• Mining 1 Bitcoin in Ireland costs up to $321,112, while in Iran, miners pay just $1,324 – Over 240 times cheaper.
• A miner in Iran could mine over 42 Bitcoins for the same energy cost required to mine just one Bitcoin in Ireland.
• The electricity used to mine a single Bitcoin in 2024 could power about 61 U.S. homes for a year.
• With the energy it takes to mine just one Bitcoin, a Tesla Model 3 could go around the Earth more than 86 times.
• With the current Bitcoin price at $57,909.16, U.S. miners face about a 50% loss per Bitcoin due to high energy costs.
• Asia leads in Bitcoin mining profit, with more than 20 countries where miners make money.
• Mining Bitcoin in some European countries like the UK or Germany costs 5 times more than the Bitcoin is worth.
• 8 out of 49 countries where Bitcoin mining is profitable have banned cryptocurrencies.

How Much Electricity is Needed to Mine 1 Bitcoin After 2024 Halving?

Mining a single Bitcoin (BTC) as an individual miner requires a substantial amount of energy. On average, mining 1 BTC consumes around 6,400,000 kilowatt-hours (kWh) of electricity. If attempted by a solo miner, this task could take nearly 12 years to finish, using approximately 44,444 kWh of power each month (calculations based on data in our methodology).

To put this into perspective:

• The electricity needed to mine 1 Bitcoin could power 61 U.S. homes for a whole year.
• The electricity needed to mine 1 BTC could power a Tesla Model 3 to go around the Earth more than 86 times.

How Much Does it Cost to Mine 1 Bitcoin Around the World? (Household Electricity Costs)

The cost of mining 1 Bitcoin varies a lot depending on where miners are located. Based on household electricity rates for mining, the range goes from very profitable areas like Iran, where mining 1 Bitcoin costs $1,324.17, to places like Ireland, where miners are paying over $321,112.30 to produce just one Bitcoin.

The U.S., despite being the largest Bitcoin mining hub, is a tough place for solo miners. They face big losses because energy costs are over $107,000 per Bitcoin. In China, where cryptocurrency is banned, the theoretical cost is just half of that.

With the current Bitcoin price at $57,909.16, U.S. miners are losing about 50% on each Bitcoin they mine. This shows how important electricity costs are in determining whether mining is profitable.

The difference in costs is striking. A miner in Iran could potentially mine over 42 Bitcoins for the same energy cost required to mine just one Bitcoin in Ireland. This huge gap in profitability is reshaping the global mining landscape.

Asia Leads the Way in Mining Bitcoin Profits, While Europe Faces Sky-High Costs

Asia continues to dominate the profitability landscape for Bitcoin mining. More than 20 countries in Asia offer favorable conditions for miners. Even after the 4th halving, miners across Asia are still seeing high returns on their investments.

On the other hand, miners in some European countries are struggling with very high costs. In countries like the UK and Germany, the cost to mine a single Bitcoin can be up to 5 times higher than its current value. This makes mining a losing proposition for many in these areas.

The stark contrast between Asian and European mining conditions is causing a shift in where mining operations are located. Miners are increasingly looking to set up in countries with lower energy costs to stay profitable.

8/49 Profitable Bitcoin Mining Nations Have Banned Cryptocurrencies

Interestingly, some of the most profitable countries for mining Bitcoin have put heavy restrictions or outright bans on cryptocurrency. 8 out of the 49 countries where Bitcoin mining is profitable have banned crypto.

This creates a strange situation for miners in these countries. They could make a lot of money mining Bitcoin, but it’s against the law. This leaves miners in a tough spot, having to choose between potential profits and following the law.

Some of these countries might be missing out on economic opportunities by banning crypto while having ideal conditions for mining. This situation highlights the complex relationship between profitability, regulation, and the global spread of cryptocurrency mining.

Top 10 Least Profitable Countries for Bitcoin Mining

After the halving, energy consumption has become an even more serious factor in determining profitability. In some countries, the cost of mining Bitcoin has increased significantly, making it a losing proposition for miners. Ireland is the least profitable country for Bitcoin mining, with an electricity cost of $321,112.30 per Bitcoin.

Here are the top 10 least profitable countries to mine 1 BTC:

In these countries, the cost to mine one Bitcoin is much higher than the current price of Bitcoin. This means miners in these areas are losing money with every Bitcoin they mine unless they have access to much cheaper electricity than the average household rate.

Top 10 Most Profitable Countries for Bitcoin Mining

On the other hand, some countries are seeing incredible profitability thanks to low electricity costs. Iran is the most profitable country for Bitcoin mining, with miners paying just $1,324.17 in electricity to produce one Bitcoin.

Here are the top 10 most profitable countries to mine 1 BTC:

Methodology

This study looked at the cost of mining one Bitcoin (BTC) in 142 countries, using USD per kilowatt-hour (USD/kWh) as the measure.

To figure out how much electricity it takes to mine 1 Bitcoin, we looked at 8 different mining machines with different hash rates. We calculated the average time it took to mine one Bitcoin with each machine, using a mining difficulty of 89,471,664,776,971.00000000. This difficulty level changes every 2,016 blocks mined, depending on how many miners are active and their total hash power, according to the CoinWarz Bitcoin calculator.

Here are the eight mining models we looked at, with their hash rates and power use:

We got electricity costs for 142 countries from globalpetrolprices.com, accurate as of December 2023. We organized this data by country, region, and sub-region.

Finally, we multiplied the average electricity consumption by each country’s electricity cost to calculate how much it costs to mine one Bitcoin in each country.

The post Electricity Costs to Mine 1 Bitcoin at Home, Around the World appeared first on NFT Evening.

For years, the crypto community has coined the term “Uptober” to describe these bullish trends, while skeptics sometimes call it “Rektober” if market predictions fall short. 

Given the volatility of the 2024 market, investors are eagerly anticipating what October will bring. Will it be a month of gains, or will disappointment dominate? This research report delves into investor sentiment, forecasts, and key factors shaping the market’s direction.

Key Findings

• 3 out of 4 crypto investors are confident that October 2024 will bring significant market gains, reinforcing the “Uptober” narrative.
• Ethereum, Solana, and BNB are expected to be the top altcoins, set to rise alongside Bitcoin.
• More than half of crypto investors expect Bitcoin at $80,000 in Uptober
• The US Presidential Election is viewed as a major catalyst, with 51% of investors expecting it to influence Q4 market movements.
• Artificial Intelligence (AI) is predicted to dominate crypto narratives, with 52.5% of investors highlighting its importance in Q4.

September Market Sentiment: Rektember or Resilience?

Despite September’s notorious reputation as a tough month for crypto—often labeled “Rektember”—the mood among investors has remained largely optimistic. 

More than half of those surveyed (55.2%) maintain a positive outlook on the market, driven by several factors. Among these, 27.6% of investors expect a rally in Uptober, while 24.2% believe in continued growth in crypto adoption as more users and institutions get involved in the space.

However, not everyone shares this optimism. A notable 44.8% of participants expressed pessimism about September, with concerns primarily centered on the weakening global economy, which is the key issue for 52.7% of investors. 

Interestingly, when it came to portfolio adjustments during this challenging month, the majority of investors chose to hold steady, with 63% preparing for potential gains in Uptober. 

Meanwhile, a smaller but still notable group of 20.2% bought more crypto assets in anticipation of market growth, further demonstrating the prevailing belief that October would bring better results.

Forecasting October 2024: 75% of Worldwide Crypto Investors Prepare for a Bullish Uptober

As October approaches, investor sentiment is overwhelmingly positive, with around 75.3% predicting a bullish Uptober. 

Of these, nearly half, or 48.3%, expect market gains of 5% to 10%, while 20.4% predict even stronger growth in the 10% to 20% range. Some investors, about 6.6%, are even more optimistic, forecasting gains above 20%.

Global Crypto Market in “Uptober”

The prediction for Uptober is primarily fueled by Bitcoin’s historical performance in October, with 38.7% of investors pointing to past market trends as a key factor. 

Bitcoin’s performance YTD (Data from Coinglass)

Additionally, a positive market sentiment, supported by 51.2% of respondents, further strengthens the belief in an Uptober rally. Other contributing factors include institutional adoption, cited by 16.3% of investors, and key catalyst events, mentioned by 15.6%. 

Upcoming crypto-friendly regulations are also seen as influential by 22.8%, while 20.6% of investors highlight strong technical breakout patterns as a reason for their optimism.

Among the altcoins, Ethereum is seen as the strongest performer, with 47.5% of investors favoring it for October gains. Solana and BNB are also expected to rise, favored by 17.7% and 19.6% of investors, respectively, alongside Bitcoin.

Bitcoin’s Path to $80,000

A key question this month is whether Bitcoin will hit the much-anticipated $80,000 mark. Just over half of the investors surveyed—51%—believe Bitcoin could achieve this milestone during Uptober. Meanwhile, 49% think this target will take longer to reach, with some expecting it by the end of 2024 or early 2025.

This optimism is largely driven by the belief that a Trump victory in the upcoming U.S. Presidential election could significantly boost Bitcoin prices. Trump’s potential win is seen as favorable for cryptocurrencies due to his administration’s historically relaxed stance on financial regulations and its impact on institutional investments​.

Among the 49% of people who believe Bitcoin will not reach $80,000 during Uptober, 19.3% expect it to hit this milestone by the end of the year. A larger group, 73.6% anticipate that Bitcoin will reach $80,000 within the next year, while 7.1% have other timelines in mind.

Market Expectations for Q4 2024: Bullish Sentiment Dominates

Nearly half of all investors expect a bullish market, with 45.9% predicting an upward trend. Others, around 37.4%, anticipate the market will move sideways, while only 16.7% foresee a bearish market, demonstrating an overall positive outlook for the remainder of the year.

Historical Bitcoin quarterly returns in Q4

A key factor shaping Q4 expectations is the upcoming US Presidential Election, with 50.4% of investors believing it will significantly influence the crypto market. 

Additionally, large-scale institutional investments are expected to play a major role, as 24.3% of participants identify this as a key driver. Meanwhile, upcoming crypto-friendly regulations are expected to contribute positively, with 33.4% citing potential regulatory changes as critical for future market growth.

AI Leads the Crypto Narrative in Q4

As Q4 approaches, AI has emerged as the dominant theme in the crypto space. More than half of the surveyed investors, at 52.5%, believe that artificial intelligence will drive the market’s direction in the coming months. 

Other trends, like NFTs and the metaverse, are still important but trail behind AI, with only 16.1% of investors highlighting these areas. Gaming and metaverse projects, favored by 10.6%, also remain relevant but are seen as minor compared to AI.

As blockchain and AI continue to converge, it is clear that investors are closely watching these developments for future opportunities.

Conclusion

As we approach October 2024, the crypto community is brimming with optimism. The strong belief in an “Uptober” scenario, coupled with positive expectations for Q4, suggests a potentially exciting period ahead for cryptocurrency markets.

The upcoming US Presidential Election, potential regulatory changes, and technological advancements, particularly in AI, are key factors to watch as we move into the final quarter of 2024.

As always in the world of crypto, the only certainty is change. Whether October 2024 brings an “Uptober” surge or a “Rektober” surprise, it promises to be an eventful month for cryptocurrency enthusiasts.

Methodology

This study surveyed 1,200 respondents across a diverse range of demographics. 56% of respondents fall within the Millennial age group (aged 26-41), while 25.3% belong to Generation Z (aged 10-25). Generation X, consisting of those aged 42-57, makes up 15.2% of the participants, and 3.5% of respondents are aged 58 and above.

In terms of gender, the survey was predominantly male, with 64.7% male compared to 34.7% female, and 0.7% preferred not to disclose their gender.

Geographically, nearly half of the respondents, 49.5%, are based in the Americas, including North, South, and Central America, as well as the Caribbean. The next largest group comes from Europe, accounting for 19.8%, followed by 20.7% from the Middle East and Africa. Finally, 10.1% of the respondents reside in the Asia-Pacific region, which includes areas like South Asia, Northeast Asia, and Oceania.

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