UK Google Searches for ‘Buy Bitcoin’ Surge 826%

Google searches for “buy Bitcoin” have increased by more than 800% in the last week in the United Kingdom, amid a major cryptocurrency rally.

According to research from Cryptogambling.tv, the search term “buy Bitcoin” skyrocketed 826 percent in seven days in the United Kingdom.

Global search terms related to purchasing Bitcoin have surged worldwide. Source: Google Trends

“The remarkable increase in ‘buy Bitcoin’ searches in the United Kingdom, coupled with the cryptocurrency’s resurgence, highlights the growing interest and potential impact of traditional financial institutions’ involvement in the world of digital assets,” a Cryptogambling.tv spokesperson stated.

While Internet users in the United Kingdom led the way, there was a global increase in searches about Bitcoin purchases.

According to Google Trends data, queries from United States users for “Should I buy Bitcoin now?” increased by more than 250% in the last week, while niche searches such as “Can I buy Bitcoin on Fidelity?” increased by more than 3,100%. Globally, the search term “Is it a good time to buy Bitcoin?” has increased by 110% over the past week.

Comparatively, searches for “BlackRock Bitcoin ETF” increased by 250%, indicating a greater interest in information regarding the pending approval of BlackRock’s spot Bitcoin exchange-traded fund (ETF).

The abrupt increase in interest coincides with a dramatic increase in Bitcoin’s price over the past two weeks, with Bitcoin briefly surpassing $35,000 on October 24 for the first time since May 2022.

 

The excitement appears to be closely related to the approval of a spot Bitcoin exchange-traded fund (ETF), which many analysts believe will spark a new wave of institutional purchasing.

By January 10, 2024, senior ETF analysts Eric Balchunas and James Seyffart estimate the probability of approval to be 90%.

According to price data from TradingView, Bitcoin has gained more than 27% in the past two weeks as of publication.

Bitcoin has notched a powerful 27.9% gain in the past two weeks. Source: TradingView