In the midst of a significant cryptocurrency rally, Google search queries related to purchasing Bitcoin have seen a remarkable uptick globally.
Over the past week, the term "buy Bitcoin" experienced an 826% surge in the United Kingdom alone, according to recent data from Google Trends.
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Search queries from the United Kingdom dominated this trend, but international interest also spiked. Google Trends data indicates that the search for "Should I buy Bitcoin now?" in the United States rose by more than 250%. Even more specialized queries like "Can I buy Bitcoin on Fidelity?" skyrocketed by over 3,100% in just one week.
A spokesperson for Cryptogambling.tv commented on the UK's spike as they covered this phenomenon by stating:
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 institutions’ involvement in the world of digital assets.
Aside from questions about buying Bitcoin, broader crypto-related searches also climbed. For instance, the phrase "Is it a good time to buy Bitcoin?" saw a 110% global increase over the last week. Another term that gained traction was "BlackRock Bitcoin ETF," which surged by 250%. This indicates a widespread enthusiasm for BlackRock's pending spot Bitcoin exchange-traded fund (ETF).
The surge in search queries coincides with a notable price increase in Bitcoin, which recently crossed the $35,000 mark for the first time since May 2022. Analysts and crypto experts suggest that the rising interest may be linked to the anticipated approval of a spot Bitcoin ETF.
According to the latest BitDegree data, Bitcoin has gained over 27% in value in the past two weeks. This trend will likely continue as traditional financial institutions show more interest in digital assets.
