According to recent data, Africa is growing in the interest of Bitcoin. In the nations of South Africa and Nigeria currently, lead in terms of Google searches in relation to the leading cryptocurrency.
Despite experiencing a significant loss in value these few weeks, this news comes from data through Binance Research, the crypto market analysis branch of the crypto platform. The department published a video of statistics showing the interest of bitcoin country by country.
“Visualized changes in heat ranking of “Bitcoin” #BTC in Google search by each Country/Region from Jan 2011 to today.
Noticeably, relative search trends of "Bitcoin" within each country have shifted from West to East, and most recently, Africa.”
Watch the video here.
Even though this is data from only fifty countries, it is understandable for some nations like China - given the censorship on google in the country.
By around 2015, interest in Bitcoin surged in East Asian countries like Singapore, Hong Kong, Malaysia, and the Philippines. As reported by Be in Crypto, it’s around this time that “interest in Bitcoin starts to grow in hyper-inflation-stricken Venezuela too. As BeInCrypto previously reported, Bitcoin could provide relief to citizens in the region. Also worthy of note is the fact that Australia has such a consistent presence in the top ten over the entire period.”
For South African countries, it is well-known that many citizens don’t have a bank account. A spokesperson for one of the largest financial institutions in the country, Nedbank said the following on the matter.
“Seasonal workers will abandon their bank account in months where there is no income. Other clients live in a largely unseen economy that is still cash driven.”
It will be interesting to see how this plays out. For more news on this and other crypto updates, keep it with CryptoDaily!