Interesting list, if the stats were true that would confirm that in mid-income countries crypto adoption has a tendency to be high.
But I would not over-interpret the list. First, because it's based on the number of "internet users". So countries with a low Internet penetration are more likely to be seen in the first ranks.
Second, there are several countries lacking in the list where the probability of a high Bitcoin penetration is high. I am almost sure that the percentage/penetration of crypto users is highest in Venezuela, as there Bitcoin and Dash are even used to buy everyday needs like bread. The country, however, does not appear in the list.
Third, how to measure the number of crypto users? For example, EU countries like Germany and the Netherlands have the highest
amount of Bitcoin nodes compared to the total population. But in high-income countries like these, it's more likely for users to run a full node. In South Africa and Venezuela, most would run light wallets instead. As they communicate with the network via middlemen, we would need the data of all of those middlemen to see the number of users.
I do not believe much in this research, the US has more buying power and facilities to buy bitcoin, how could they lose to South Africa, Thailand, Indonesia, Vietnam and Brazil? china has many miners, how would they be losing to southern africa?
10 Countries with the Most Bitcoin HodlersThis list is likely referring to the absolute numbers, where the US surely ranks first or at least "among the first". But the list the OP linked is the percentage of internet users. The US has a nearly 100% Internet penetration and 300 million inhabitants, so it's not strange that it's considered the first country in terms of Bitcoin hodlers. However, the Usethebitcoin article is a bit poorly written, I would like to see more sources and hard facts there. And as I wrote, I think
real numbers are very difficult to get.