Google searches for “Buy Bitcoin” have surged by over 800% in the United Kingdom amid a global crypto rally, according to a study by Cryptogambling.tv.
The increased interest follows a significant rise in Bitcoin’s price worldwide. The search term’s popularity spiked a remarkable 826% in the U.K. within a week. “The surge underscores the growing interest and potential impact of traditional financial institutions’ involvement in digital assets,” a spokesperson from Cryptogambling.tv stated.
Although the U.K. leads in search volume, there has also been a significant increase in purchase-related queries from web users globally. Data from Google Trends shows a more than 250% increase in U.S. searches for “should I buy Bitcoin now?” and a staggering 3,100% rise in searches for “can I buy Bitcoin on Fidelity?” in the past week.
The search term “Is it a good time to buy Bitcoin?” also saw a worldwide gain of 110% over the last week. This coincides with Bitcoin’s price surpassing $35,000 on Oct. 24 for the first time since May 2022.
The surge in interest is believed to be closely linked to the pending approval of BlackRock’s Bitcoin exchange-traded fund (ETF). The ETF is expected to stimulate a new wave of institutional buying. According to senior ETF analysts, Eric Balchunas and James Seyffart, the probability of the ETF approval stands at 90% by January 10 next year.
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