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Bitcoin enthusiasts remain in delight following renewed institutional investment in the cryptocurrency market. The bullish action has led to an upward price action in the market leader and an increasing adoption in several jurisdictions.
According to Google data, interest in Bitcoin post-Easter slightly surged before plummeting to levels last week. Among the leading countries for interest in the market or related searches around Bitcoin were El Salvador, Nigeria, Switzerland, and the Netherlands.
El Salvador Bitcoin Stance Is Key
Pro-Bitcoin El Salvador maintains the top spot on the list following its policies to adopt and double down on the asset. After adopting Bitcoin as a legal tender, the nation’s total holdings stand at 5,690 BTC valued at approximately $400 million. The country recently transferred assets to a cold wallet signaling a long-term holding strategy and move toward greater security.
El Salvador’s economic stance began in 2021 after Bitcoin was introduced as a legal tender with support from the cryptocurrency community. Although several critics pointed to the volatility of the cryptocurrency market, the country remained firm with eyes keen on wider economic reforms.
Nigeria’s Top African Crypto Drive
Nigeria’s youthful population is pro-crypto despite macroeconomic factors and domestic market clampdown by successive administrations. Recently, Nigeria has turned to cryptocurrencies as a hedge against inflation following the economic downturn and the crash of the naira. Bitcoin and stablecoin USDT have been top assets among the populace in the last year.
The former government banned cryptocurrency trading in the country citing investor risk amongst others. However, citizens remained determined behind blockchain technology leading to a reversal of the policy before the present crypto exchange debacle with Binance and other platforms. Last year, a CoinGecko report showed Nigeria represents 66% of crypto interest in Africa and continues to rank higher globally.
“Nigeria was previously ranked as the most crypto-curious country in the world, alongside Kenya. The West African country has frequently appeared in other global top rankings too, with strong interest in specific areas of crypto.”
Switzerland also ranks high post-Easter with an increased number after the approval of spot Bitcoin ETFs in the United States. The move sparked a surge in institutional demand for the asset globally. The European market has become more welcoming to digital assets due to the passage of the Markets in Crypto Assets (MiCA) regulation.
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Read More: El Salvador, Switzerland, and Nigeria Top Bitcoin Interests Post-Easter | CoinGape
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