China dominates Bitcoin mining and the latest crypto exchanges are either run by Chinese or are headquartered in Hong Kong.
China has capital controls and little press freedom.
Note that the US and Europe has highly evolved capital markets. They may have deep, liquid markets, but it does not reflect the relative popularity of Bitcoin.
Source please?
I would have guessed; by market cap the majority is held in the US and Europe. I would have guessed: by transaction volume, the majority in the US and Europe.