Nigeria emerged as the country with the highest number of bitcoin searches on Google
Data gathered from Google trends confirms that Nigerian interests in bitcoin has skyrocketed. Nigeria secured the first position on global search list for Bitcoin followed by South Africa, Austria, Switzerland and Ghana.
The data uncovered that Nigeria had a search score of 100, proving to be twice as high as the country's nearest rival.
Nigeria is a country that hasn't shied away from Bitcoin, with the young demographic holding the most significant interest in cryptocurrency worldwide and are responsible for the recent surge in number of Google searches. This could be a reflection on the current turbulent economic climate involving mass unemployment, weak currency and inflation to name a few, which has prompted the population to seek alternatives. In this case, cryptocurrency has proven to be an antidote to many peoples financial hurdles.
The news was welcomed by the president of Stakeholders in the Blockchain Technology Association of Nigeria (SIBAN), Mr.Iyere Ihenyen. He stated:
Nigeria new status this is hardly surprising for a country with a median age of 18.4 contends that in such scenario interest in Bitcoin and its adoption should be expected meanwhile Ihenyen points out that while institutional investor interest in Bitcoin is taking hold in countries like the United States, interest in BTC in Nigeria is as decentralized as the cryptocurrency itself.
Ihenyen added that the news shows the next step towards cryptocurrency adoption for the country:
Nigerians are experiencing the level of financial inclusion that many have expected for too long. The freedom of money is a powerful thing, especially in a borderless digital economy, whether for remittance, e-commerce, Bitcoin trading more and more Nigerians are taking an interest in Bitcoin daily.
The rankings reflect the views of John Bamidele, founder of gbc.ng, who argues that Africa is a region of Fintech and mobile money opportunities. In fact, Kenya has recently introduced a $45 million Crypto exchanges tax project, affirming that crypto is on the radar for the region.
Source: E-Play Africa
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