In a remarkable surge of interest, Google searches for “buy Bitcoin” have witnessed an astonishing 800% increase in the United Kingdom over the last week. This surge in online curiosity isn’t limited to the UK alone, with users from around the world seeking information on how to buy Bitcoin.
The rise in ‘buy Bitcoin’ searches in the UK and globally signifies a growing interest and the potential impact of traditional financial institutions in the world of digital assets. Cryptogambling.tv, a research entity, confirmed this surge and pointed out the correlation with the recent resurgence of Bitcoin.
Across the Atlantic, users in the United States have also shown a significant interest in Bitcoin, with searches like “should I buy Bitcoin now?” experiencing an increase of over 250%. More specialized inquiries, such as “can I buy Bitcoin on Fidelity?”, surged by an incredible 3,100% in the last week.
Zooming out to the broader picture, the question “Is it a good time to buy Bitcoin?” saw a 110% increase in searches worldwide in the last week. This heightened interest aligns with a significant boost in Bitcoin’s price over the past two weeks, briefly exceeding $35,000 on October 24, marking its highest value since May 2022.
Much of this excitement revolves around the pending approval of a spot Bitcoin exchange-traded fund (ETF), which experts believe could spark a new wave of institutional investments. Analysts Eric Balchunas and James Seyffart estimate the approval likelihood at an impressive 90% by January 10, 2024.
I've gotten a lot of questions regarding my current view on Spot #Bitcoin ETFs over the last couple weeks. This is the first section of the note I put out yesterday with @EricBalchunas.
— James Seyffart (@JSeyff) October 13, 2023
TLDR: Our view hasn't changed much https://t.co/dRAm5IsdQf pic.twitter.com/Htsi3n2XxV
This surge in interest not only reflects Bitcoin’s resurgence but also indicates a potential shift in the financial landscape as traditional institutions are increasingly exploring and embracing cryptocurrencies. Bitcoin’s price has climbed by more than 27% in the last two weeks, marking a promising development for crypto enthusiasts and investors alike.
