Buy Bitcoin" UK Google searches soar 800% in a week
27 Oct 2023
"Buy Bitcoin" searches on Google have skyrocketed across the globe during a major crypto rally, with searches in the UK alone surging by more than 800% over the past week.
Indeed, the "Buy Bitcoin" search term rose by 826% in Britain within seven days, according to findings by Cryptogambling.tv.
"The remarkable surge in 'buy Bitcoin' searches in the UK, combined with the cryptocurrency's resurgence, underscores the growing interest and potential impact of traditional financial institution's involvement in the world of digital assets," stated a spokesperson from Cryptogambling.tv.
Although users in the UK led the way, there was also a significant increase in searches related to purchasing the world's largest cryptocurrency from users around the world.
According to Google Trends data, searches from users in the US for "Should I buy Bitcoin now?" rose by over 250%, whilst searches including "Can I buy Bitcoin on Fidelity?" increased by more than 3,100% over the last week, Cointelegraph reports.
In addition, the term "Is it a good time to buy Bitcoin?" experienced a 110% rise across the globe in the past week. The search for "BlackRock Bitcoin ETF" increased 250%, showing wider enthusiasm for information in relation to BlackRock's spot Bitcoin exchange-traded fund (ETF), which is pending approval from the US Securities and Exchange Commission.
The soaring interest comes at a time when the price of Bitcoin has surged over the last fortnight, with BTC exceeding the $35,000 mark on 24 October for the first time since May last year.
The excitement appears to be closely associated with the approval of a spot Bitcoin ETF. deVere CEO and founder Nigel Green said of ETFs this week: "ETFs provide a convenient way for traditional investors to gain exposure to Bitcoin. Many investors, particularly institutional ones, have been hesitant to invest directly in cryptocurrencies due to regulatory concerns and security issues. The approval of ETFs offers a regulated and insured avenue for them to invest in Bitcoin.
"We expect that Bitcoin could reasonably reach $50,000 by the end of the year," he added.
At the time of writing, the Bitcoin price stood at $33,984 after gaining over 27% in the last two weeks, according to TradingView price data.