According to data from Google Trends, Nigeria has emerged as the country with the highest interest in Bitcoin, closely followed by El Salvador. Regions with lower security levels, lower bank penetration rates, and a higher proportion of millennials are more likely to adopt Bitcoin as a reliable store of value and convenient means of payment. The Nigerian government has recently taken steps to address economic difficulties and prevent currency collapse. In May 2024, the Nigerian government began preparations to introduce new regulations prohibiting peer-to-peer (P2P) transactions between the national currency and cryptocurrencies. While the Nigerian government is tightening regulations around cryptocurrencies, the high interest in Bitcoin among its citizens suggests a growing demand for alternative financial solutions. Similarly, El Salvador’s position as the second-highest country in terms of Bitcoin interest reflects the nation’s embrace of cryptocurrency, having adopted Bitcoin as legal tender in 2021. The data highlights the increasing global interest in Bitcoin, particularly in regions where traditional financial systems may be less accessible or stable. As more countries grapple with economic challenges, the adoption of cryptocurrencies like Bitcoin could continue to gain traction, despite regulatory hurdles in some regions.
