As anticipated, El Salvador takes the top spot in Google search rankings.
It has been over 15 years since Satoshi Nakamoto introduced Bitcoin to the world, and a lot has happened within this timeframe. From being called a pyramid scheme, rat poison (sq), and proclaimed dead hundreds of times, to becoming a trillion-dollar asset with a dozen exchange-traded funds tracking its performance on the world’s largest financial market.
Its adoption curve, which has recently been linked to that of the Internet from 1997, has seen some deviations on its upward trajectory, but the overall trend is quite promising. Google Trends data also shows that retail traders have gradually returned to the scene, but some countries are more inclined to look for the primary cryptocurrency than others. Here are the top 5.
El Salvador Takes the Lead
It might not be a shock to many, but El Salvador takes the top spot on Google’s search list. The Central American nation grabbed headlines in 2021 for its groundbreaking move to adopt Bitcoin as legal tender.
Under the leadership of President Nayib Bukele, El Salvador has been actively embracing Bitcoin, implementing various initiatives such as building a veterinary hospital funded with cryptocurrency, issuing volcano bonds, and exploring Bitcoin mining using geothermal energy.
Despite facing challenges like the 2022 bear market and criticism from global organizations like the IMF, El Salvador has continued to accumulate Bitcoin. According to available data, the country currently holds Bitcoin assets worth $400 million.
Nigeria takes the next spot
For years, Nigeria has been contending with rampant inflation while also pointing fingers at the cryptocurrency sector, including platforms like Binance, for the depreciation of its fiat currency. Moreover, the government imposed restrictions on banks from serving cryptocurrency clients, a ban that was eventually lifted in late 2023.
Despite these challenges, Nigerians have demonstrated a strong affinity for Bitcoin and other digital assets, a sentiment echoed in various surveys. Google Trends data corroborates this, placing Nigeria as the second-highest country in terms of interest in Bitcoin.
Bitcoin Searches by Countries. Source: Google
What Other Countries Are in the Top 5?
While the presence of El Salvador and Nigeria is somewhat expected due to legal recognition of BTC and economic challenges, the inclusion of Liechtenstein, Switzerland, and Austria in the top five is surprising. These European nations, known for their strong economies, demonstrate an unexpected interest in Bitcoin adoption.
Switzerland, in particular, is renowned for its pro-crypto stance, with various crypto exchange-traded products available in the market and local banks offering staking services. Additionally, the Canton of Zug permits certain payments using Bitcoin and Ethereum, further emphasizing the country’s crypto-friendly environment.