Nigeria, one of the biggest cryptocurrency markets in the world, made it to the top as the country with the highest number of bitcoin searches globally.
According to a recent report from Google Trends data shows that the West African country has a search rating of 100, which is greater than double that of its nearest rival.
What this means is that majority of the youth are considering Bitcoin as an investment option which might be a good fit for them if they are willing to take the risk.
Nigeria’s rise to the top of bitcoin search rankings signals the growing energy of the crypto in that country. This assertion is supported by Senator Ihenyen, the new president of the Stakeholders in the Blockchain Technology Association of Nigeria (SIBAN).
In his words: He says this is hardly surprising for a country with a “median age of 18.4.” He contends that in such a scenario, “interest in bitcoin and its adoption should be expected.” as the youth’s interest in BTC represents the democratization of access to global wealth.
Meanwhile, Ihenyen points out that while institutional investor interest in bitcoin is taking hold in countries like the United States, interest for BTC “in Nigeria is as decentralized as the cryptocurrency itself.” The SIBAN president explains
Ihenyen concluded by saying “this growing interest cannot be stopped but “can it be maximized and managed.” He adds that policymakers and regulators should therefore be searching for ways to maximize and manage this interest instead of “looking for the red button.”