'Scars' for Starbucks

& Tracking Bitcoin's Regional Ownership

June 13, 2025

China’s Coffee Disruptors Just Landed in Starbucks’ Backyard

Chinese coffee giants Luckin and Cotti are brewing up disruption in the U.S., bringing their ultra-cheap prices and bold flavor experiments—like liquor-laced lattes—to New York City. With Cotti already serving 99-cent drinks to app users and Luckin on its heels, the duo are betting that American coffee lovers will trade loyalty for value.

This playbook is familiar: Chinese firms like Temu and Shein have muscled into global markets by offering rock-bottom prices, even at the expense of profit. By replicating that model, Luckin and Cotti could challenge established players—not just with affordability, but through aggressive, app-driven customer acquisition.

Starbucks, already under pressure in China, now faces a double shot of competition. Slashing prices abroad is one thing, but defending U.S. market share without squeezing margins at home may prove a bitter blend.

Bitcoin Breaks into the $2 Trillion Club — But Who Owns It?

In May 2025, Bitcoin crossed an all-time high of $111,814, propelling its market capitalization to $2.1 trillion—making it the fifth most valuable asset globally, just behind Amazon and ahead of Alphabet, Meta, and Tesla.

But while its valuation rivals the largest companies in the world, ownership of Bitcoin remains highly concentrated and uneven across regions, shaped by inflation, regulation, and institutional access.

Global Adoption Snapshot: 562 Million Owners

That’s 6.8% of the global population, but the growth has been explosive—+33% year-over-year. Every continent is seeing momentum, albeit for very different reasons.

Where Bitcoin Lives — And Why

North America

38.6% growth in ownership in 2024, turbocharged by the approval of Bitcoin ETFs in the U.S.
7 of the top 10 corporate Bitcoin holders are American, and BlackRock’s ETF hit $50B AUM in under 9 months, becoming the fastest-growing ETF in history.
Institutionalization and policy optimism (post-Trump re-election) are key drivers.

Asia

More than 50% of global crypto holders reside here, with Singapore leading: ~25% of its population owns crypto.

South America

Bitcoin is a hedge against hyperinflation.
Argentina (18.9%) and Brazil (17.5%) have some of the highest individual ownership rates globally.
Local exchanges and relatively favorable regulatory structures support adoption.

Oceania

Crypto ownership doubled YoY, with a notable 189% surge in institutional investment in Australia.
Even as retail investment volumes dropped, high-net-worth and institutional participation rose.

While Bitcoin now stands shoulder to shoulder with the biggest tech companies, ownership doesn’t mirror valuation. The asset may be global in market presence, but its utility and appeal remain deeply regional—a hedge in inflation-hit economies, an ETF in institutional markets, and a status asset in digitally savvy nations.

LVMH Leverages AI to Power Through Luxury Slowdown

LVMH is doubling down on AI to navigate a luxury slowdown, especially in the U.S. and China. Its in-house platform, MaIA, built with Google Cloud, handles over 2 million internal requests monthly to optimize everything from supply chains to pricing.

AI is also enhancing customer experiences across brands like Tiffany & Co., where advisors use it to tailor communication and deepen client relationships. Creative and inventory teams rely on AI for mood boards and demand forecasting to stay agile in a fragmented market.

Still, LVMH emphasizes that AI supports rather than replaces its people. Craftsmanship and human touch remain central, with technology positioned as a tool to elevate—not automate—the luxury experience.