Interest in bitcoin has never been higher this year with the currency featured in the top trending Google words, while worldwide Google searches for bitcoin have reached an all-time high this year and are not too far from its all-time high ever.
Out of all countries in the world, Nigeria is currently showing the most interest. They have been suffering from high levels of inflation following the drastic fall in oil prices last year which sent their economy down and inflation up.
They have, therefore, began taking an interest in bitcoin with some even suggesting it could be used as a national currency to deal with the inflationary problem, but that appears unrealistic at the moment.
The second most interested country is Ghana, a developing nation not far from Nigeria, with a third African nation making it to the top, South Africa, which stands in the fifth position currently.
All three are developing countries which may suggest they are taking an interest in bitcoin primarily for remittances services as it may be quicker as well as cheaper to transfer value internationally through the bitcoin network rather than traditional fiat systems.
Interestingly, the other countries in the top six are Estonia, Slovenia and Czechia, all in Eastern Europe although all three have considerably modernized in recent years to the point where their standards may be somewhat similar to Italy’s.
Bitsamp operates from Slovenia, while Estonia arguably has the most advanced digital infrastructure at the government and civil service levels. They have been looking at blockchain technology, especially as it pertains to ID systems and online signature systems.
The above is a decent snapshot, but not all countries use google. Baidu, for example, is far more popular in China while South Koreans use their own search engines, probably because their language has different characters from Latin based alphabets.
Nonetheless it does provide a decent indication of the current levels of interest in bitcoin across much of the globe with the data suggesting bitcoin is now mainstream in the west, nearly a decade after its invention.