The overall score for the state was likewise 2.54 points greater than the national average. The data was compiled using indicators such as cryptocurrency-related Google search queries, the availability of Bitcoin (BTC) and other cryptocurrency ATMs, and the count of blockchain-linked legislation enacted in every state.
California led the nation in both the count of cryptocurrency ATMs and the amount of cryptocurrency-linked Google searches per 100,000 people. These favorable aspects outweigh the state’s absence of crypto-focused laws. In contrast, New York enacted eight crypto-related laws but ranked 33rd with respect to cryptocurrency ATM installations. New Jersey has the most cryptocurrency ATM installations per 10,000 square miles and ranks third in terms of searches per 100,000 inhabitants.
Texas and Florida also performed well in terms of ATMs and total searches. In spite of regulatory uncertainties and a pending framework bill that may have an impact on major sectors of the blockchain economy, the United States remains a worldwide leader in bitcoin adoption.
In 2020, BTC trading volumes in the United States will outnumber those in Europe, Nigeria, and China combined. Americans made $4.1 billion in investment gains on their crypto transactions in the same year, greatly above any other nation. As per industry sources, the United States also leads the world in Bitcoin ATM installations, representing a staggering 86.4% of all deployments.
The popularity of cryptocurrency in the United States is mainly due to its position as an investment grade asset class. As a result, other acceptance indicators aren’t nearly as important. In August, financial comparison site Finder rated the United States 26th out of 27 nations with respect to resident cryptocurrency possession. Emerging economies that depend exclusively on remittances, like those in Southeast Asia and Latin America, scored much greater.