Bitcoin Adoption Increases by 700% Despite Bear Market, Survey Reveals

Bitcoin, the largest cryptocurrency in the world, has recently been the focus of attention of various financial institutions and social networks. Whether it’s the Securities and Exchange Commission (SEC), involved in the approval of the stock exchange investment fund (ETF), and Jack Dorsey, CEO of Twitter, who called Bitcoin “the national currency of the Internet.” Bitcoin is on the bright side of a bear market.

Bitcoin adoption by merchants around the world has increased by 700% in the past six years. Data by Bitcoin directory service provider- Coinmap shows that 14,359 venues across the globe accepts Bitcoin as the mode of payment.

The heat map shows an increase in the number of places that accept cryptocurrency:

The map demonstrates an increasing number of places that legitimately opened a Bitcoin-based business around the globe.

The most notable increment in the number of spots that accept Bitcoin is the northern part of South America. If we look at the world view, North America and Europe are the continents that have a majority of stores accepting Bitcoin.

Nonetheless, a large portion of China and the subcontinental parts of Southeast Asia are still a long ways behind in terms of the use of cryptocurrency.

Furthermore, a survey initiated by Kaspersky Lab shows that there are 13% shoppers around the world use Bitcoin for online shopping. Kaspersky Labs has done this survey in 22 countries on 12,448 consumers.

The CEO of the crypto treasury management firm-CoinShares, Ryan Radloff, disclosed the data of Bitcoin adoption via his Twitter handle. The figures show that if we compare the numbers of venues accepting Bitcoin on 31st Dec 2013 and 31st Dec 2018, we will see massive growth in Bitcoin adoption.

Even though crypto market has experienced plummet, yet there is an intense interest for digital asset among consumers as well as merchants.

According to our recent report, we showed that crypto experts like CryptoMento and Josh Rager are still very much positive about Bitcoin and suggested to invest in it for future purpose. The popularity of cryptocurrency is increasing day by day, and this news will make all crypto enthusiasts happy.

 

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