According to data from Google Trends, Cuba now ranks second in terms of Bitcoin interest over the past 30 days.
November 2, 2020 | AtoZ Markets – Over the past 30 days, Cuban citizens have become more interested in Bitcoin. In terms of the number of searches related to the flagship cryptocurrency, Cuba, having an estimated population of 11.34 million came in second.
According to Google Trends, Cuba is second only to Nigeria. The growing popularity of bitcoin in the island nation is associated with tougher US sanctions, as well as restrictions on the use of PayPal and Stripe payment platforms.
The top five countries with high interest in bitcoin include South Africa, Cameroon and Ghana. Less often than others, residents of Taiwan, Kazakhstan and Japan turn to the search engine with such a request.
Previously, the Cuban authorities explored the options for using cryptocurrencies in national and international commercial transactions to circumvent US sanctions.
As a reminder, by August the frequency of search queries for the phrase “buy altcoins” increased to the highest values since January 2018. On the contrary, the popularity of the “buy bitcoin” request has declined after the halving in May.
Interest in Bitcoin increases amid Covid-19
Four countries from South America made it to the top ten most’ Bitcoin maximalist’ to Africa’s three. Brazil had the highest search interest in bitcoin at 92.6%, while both Chile and Ecuador were roughly 89%. With 87.7%, Argentina had the lowest interest of the top ten in the region.
The ongoing global pandemic seemed to spark greater demand for crypto in these nations. Even though Venezuela did not make the top ten, but Bitcoin search interest in the region was still 75.2%. The ongoing Covid-19 pandemic has forced people to engage in digital payments to avoid coming in contact with other people. The interest in Bitcoin all over the world has increased in the last few months.
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