The United States ranks as the most Bitcoin-obsessed country in the world, according to a new study. Nigeria, is the only African country to make it to the top five of the ranking according to the study.
Cryptocurrency betting experts cryptobetting.org combined Google Trends searches across the globe for countries searching for Bitcoin, alongside the number of Bitcoin ATMs in each country per 100,000 people and data on Crypto ownership per country. These metrics were then combined into an index to allocate each country a rating out of 100 to reveal which countries are most interested in Bitcoin.
1. United States – 54.95/100.
The United States ranks as the most Bitcoin-obsessed country in the world, with a total score of 54.95. The country boasts a high number of Bitcoin ATMs, clearly indicating the growing interest in the cryptocurrency. In the United States, around 13.22% of the population owns cryptocurrency, with Bitcoin being the most popular choice among these individuals. The large number of Bitcoin ATMs, along with the high rate of ownership, places the United States among the top countries in terms of Bitcoin popularity globally. The interest and adoption of Bitcoin in the United States is a testament to the growing acceptance of digital currencies as a legitimate form of investment and financial instrument.
2. El Salvador – 46.19/100
El Salvador is a unique and prominent player in the world of Bitcoin, with a total score of 46.19. The country ranks second globally on the scale of countries with the highest interest in Bitcoin, making it a standout destination for digital currency enthusiasts. What sets El Salvador apart is that it is one of only two countries in the world where Bitcoin is considered legal tender. This distinction could explain the high level of interest in the country, as evidenced by the highest global Google searches for Bitcoin originating from El Salvador. The country is also the leader in Bitcoin popularity in Latin America, with 212 Bitcoin ATMs available for use. The combination of being a legal tender and the large number of ATMs makes El Salvador a hub for Bitcoin activity and a prime example of the growing acceptance of digital currencies.
3. Vietnam – 35.69/100
Vietnam has positioned itself as a leader in terms of interest and adoption of Bitcoin, with a score of 35.69. Vietnam has the highest percentage of cryptocurrency ownership globally at 26%, while it also has 8 Bitcoin ATMs, making it easier for individuals to access and use the cryptocurrency. Vietnam’s strong interest in Bitcoin has made it the most popular country for digital currency in Asia. This high level of ownership and accessibility highlights Bitcoin as a legitimate form of investment in Vietnam and the wider Asia region.
4. Canada – 35.49/100
Canada has a strong and growing interest in Bitcoin, with a score of 35.49 therefore placing fourth on the list. Canada has a large number of Bitcoin ATMs, with 2,645 ATMs available for use, and has the second highest number of Bitcoin ATMs per 100,000 people. In Canada, 4.1% of the population owns cryptocurrency, with the majority being Bitcoin. This high number of ATMs and the growing ownership of Bitcoin contribute towards a total score of 35.49 out of 100.
5. Nigeria – 25.31/100
Nigeria is a leading player in the world of Bitcoin, with a score of 25.31, helping it rank as the fifth country most interested in Bitcoin. The country is the leader in Bitcoin popularity in Africa, and also ranks second globally for Google Trends searches for Bitcoin, further emphasizing the high level of interest and recognition of the digital currency in the country.
Where do the other countries place on the list?
Switzerland places sixth on the list and is the European country with the highest interest in Bitcoin with a score of 19.14 out of a 100, rounding out the top ten is the Philippines with 18.71, India with 17.08, Venezuela with 16.88 and lastly Austria with 16.31. The United Kingdom places 20th on the list with a score of 12.19.
Commenting on the findings, a spokesperson for cryptobetting.org said: “Bitcoin is by far the most popular cryptocurrency across the world and this study highlights its immense popularity, with countries from different continents placing on the list, emphasizing Bitcoin’s global interest.
“While it was expected that the United States would place first in the study, it is interesting to see that El Salvador places second. This can be explained by the fact that El Salvador became the first country in the world to use Bitcoin as a legal tender.”