Amidst a significant surge in the price of BTC, there has been a notable worldwide spike in Google searches related to purchasing Bitcoin.
The search term “buy Bitcoin” has observed a striking upsurge globally, particularly in the United Kingdom, where the searches have skyrocketed by an astonishing 826% in the last seven days, as per findings from Cryptogambling.tv.
The surge in ‘buy Bitcoin’ searches in the UK, along with Bitcoin’s resurgence, underlines the mounting interest and potential influence of conventional financial institutions’ participation in the realm of digital assets, as highlighted by a representative from Cryptogambling.tv.
While the UK users spearheaded this trend, an evident rise in searches associated with Bitcoin acquisition was also noticed among internet users across the world.
Data from Google Trends revealed that in the United States, searches such as “is it advisable to buy Bitcoin now?” observed an increase of over 250%. Simultaneously, more specific inquiries like “can I buy Bitcoin on Fidelity?” witnessed a staggering surge of over 3,100% within the last week.
Buy Bitcoin Interest Soars Amid Pending ETF Approval and Price Surge
Broadening the scope, the query “Is this a favorable time to buy Bitcoin?” recorded a global surge of 110% over the past week. In contrast, “BlackRock Bitcoin ETF” witnessed a growth of 250%, highlighting a broader eagerness for information regarding BlackRock’s impending spot Bitcoin exchange-traded fund (ETF).
This sudden surge in interest coincides with a substantial rise in Bitcoin’s price in recent weeks, briefly crossing the $35,000 mark on October 24, the first instance since May 2022.
The excitement seems closely tied to the pending approval of a spot Bitcoin ETF, which numerous experts believe will trigger a fresh wave of institutional buying.
Esteemed ETF analysts Eric Balchunas and James Seyffart have estimated the likelihood of approval at 90% by January 10 next year.
As of the current update, Bitcoin has registered a gain of more than 27% in the past fortnight, according to price data sourced from TradingView.