Google’s “buy Bitcoin” searches have witnessed a global surge amidst a significant cryptocurrency rally, with searches in the United Kingdom soaring by a remarkable 826% in the past week, according to research conducted by Cryptogambling.tv.
This exponential increase in the UK’s “buy Bitcoin” search interest, combined with the resurgence of the cryptocurrency market, underscores the burgeoning curiosity and potential impact of traditional financial institutions venturing into the realm of digital assets, as noted by a spokesperson from Cryptogambling.tv.
While users in the United Kingdom led the charge, there was also a noticeable uptick in global web users’ searches related to purchasing Bitcoin. Google Trends data reveals that in the United States, queries such as “Should I buy Bitcoin now?” surged by over 250%, while more specific inquiries like “Can I buy Bitcoin on Fidelity?” saw an astonishing increase of over 3,100% over the past week.
Taking a broader perspective, the search term “Is it a good time to buy Bitcoin?” registered a global surge of 110% in the past week. In comparison, “BlackRock Bitcoin ETF” saw a growth of 250%, indicating heightened interest in information regarding BlackRock’s pending spot Bitcoin exchange-traded fund (ETF).
This sudden surge in interest coincides with a significant rise in Bitcoin’s price over the past two weeks, with the cryptocurrency briefly surpassing $35,000 on October 24, marking its highest value since May 2022. This enthusiasm appears to be closely linked to the anticipated approval of a spot Bitcoin ETF, widely believed to trigger a fresh wave of institutional investments.
Senior ETF analysts Eric Balchunas and James Seyffart have estimated a 90% probability of approval by January 10 of the following year.
As of the time of this report, Bitcoin has gained more than 27% in the past two weeks, based on price data from TradingView.
