Bitcoin, among the 10 most searched news in Colombia in 2021 – CVBJ

Key facts:

The peak of interest occurred in January and May, when the price of bitcoin moved strongly.

In Colombia there were several developments related to adoption and regulation during the year.

When the end of a year approaches, it is common to find balances and analysis of everything that those 12 months that passed. The internet is no exception. In Colombia, in addition to the pandemic and contemporary social issues in the country, bitcoin (BTC) was one of the 10 most sought after news items.

Specifically, the cryptocurrency devised by Satoshi Nakamoto in 2009 occupies the eight position of the ranking elaborated by the search engine Yahoo! and replicated by Infobae. The topics that headed the top 5 were the vaccine for COVID-19, solidarity income, National Police of Colombia, minimum wage 2021 and coronavirus.

What news about bitcoin was there in Colombia in 2021?

Beyond the data itself, it is worth wondering what may be the reason for the interest that Colombians showed during the year in bitcoin. Of course, this may have to do with internal events, but it also relates to global events.

The most important of them is perhaps the ATH (All-time high or historical maximum price) that the cryptocurrency reached on November 10. Its price that day reached $ 69,044, according to data from CoinGecko.

But from the borders to the inside there was also news that surely contributed to the disclosure of bitcoin. For example, several of them had to do with the sandbox of regulations that is being carried out in the country.

As reported by CriptoNoticias, this implies the connection between banks and cryptocurrency exchanges to move towards a regulation of activity in Colombia. In this way, several banks come up with a method to offer cryptocurrency exposure to their clients.

In addition, there were news regarding the adoption of bitcoin as a payment method. Since November, there is already the possibility of buying at Mercado Libre and Walmart, among other stores in the country, paying with cryptocurrencies.

Finally, it cannot be ignored that negative things also happened. In September, the exchange Binance made headlines in the country due to the blocking of funds to some of his clients at the request of police authorities in the Netherlands and the United States. This, of course, caused doubts and fears among users about the possibility of losing their bitcoins, which in many cases represented savings of many years.

Other details about bitcoin searches in Colombia

Like almost all statistics, this one offered by Yahoo! it can be analyzed more in depth and even compared with others from various sources. For example, if you consult Google Trends —the tech giant’s statistics tool— you can see that Colombia has been one of the countries most interested in bitcoin in the region.

Thus, as can be seen in the following graph, this term has had more searches than in Mexico and Paraguay. However, these inquiries were less than those made in Argentina and Venezuela, two countries recognized as the epicenter of cryptocurrency adoption in South America.

January and May, the peaks of interest for bitcoin in several Latin American countries. Source: Google Trends.

Furthermore, it can be noted that Interest in bitcoin was higher in January, when it practically doubled in value, and in May 2021. What happened in that moment? There was an abrupt drop in the price of the cryptocurrency, which went from around $ 57,750 at the end of April to trading near $ 31,676 by the end of May.

Sudden changes in the price of bitcoin are directly related to people’s interest in the subject. Source: CoinMarketCap.

Ultimately, the influence of celebrities and their news related to bitcoin, blockchain and cryptocurrencies can also be considered. According to another Yahoo! ranking, James Rodríguez, Lionel Messi, Cristiano Ronaldo and Shakira were among the most wanted celebrities of the year. They all have something in common, and that is that during 2021 they launched their non-fungible tokens (NFT) or were, in Rodríguez’s case, related to cryptocurrency exchanges through sponsorship contracts.