The number of Google searches for “buy Bitcoin” has surged globally as cryptocurrency prices hit record highs. In the UK alone, there has been an over 800% increase in searches for “buy Bitcoin” in just the past week.
The significant rise in search volume for the keyword ‘buy Bitcoin’ in the UK, coupled with the increase in the prices of various cryptocurrencies, indicates growing investor interest in this asset. This trend is evidently impacting traditional financial institutions, prompting them to pay more attention to the world of digital assets.
The growing interest is not limited to the UK; the global search volume for buying Bitcoin has also seen a sharp increase. According to Google Trends data, searches from users in the United States for the phrase “Should I buy Bitcoin now?” have risen by over 250%, while more specific queries like “Can I buy Bitcoin on Fidelity?” have seen an astonishing 3,100% increase in the past week.
The search term “Is this a good time to buy Bitcoin?” has witnessed a 110% global increase in just a few days. Meanwhile, the phrase “BlackRock Bitcoin ETF” has seen a 250% surge, reflecting widespread interest in information related to BlackRock’s Bitcoin exchange-traded fund (ETF), currently awaiting approval.
Clearly, the prospect of a Bitcoin ETF is attracting significant investment into the digital currency, as it allows more investors to buy Bitcoin without directly trading it. According to analysts Eric Balchunas and James Seyffart, the likelihood of approving the BTC ETF before January 10, 2024, is estimated to be as high as 90%.