In the span of 9 years, bitcoin has become the global financial revolution from mere an experimental currency.
Region based popularity of bitcoin
Bitcoin is gaining fast popularity around the globe. BTC – friendly cities in Europe include Prague (most BTC – accepting vendors in the world), Czech Republic, Madrid, Spain, Amsterdam, Netherlands, London, United Kingdom, and Paris, France.
Some of the American cities that support BTC are Buenos Aires (second most BTC – accepting vendors in the world), Argentina, San Francisco (third most BTC – accepting vendors in the world), USA, Bogota, Colombia, New York City, USA, and Vancouver, Canada.
Tel Aviv, Israel, Cape town, South Africa are some of the cities that are claiming to have an increasing BTC use. East Asian countries like Thailand and Indonesia and other cities like Melbourne and Sydney in Australia also use Bitcoin considerably.
Encountering Inflation and Safeguarding Financial Inclusion
BTC is placed above the fiat currency, as it is used as a tool to fight global inflation. Some countries such as Argentina, Venezuela, and Zimbabwe, has started adopting BTC at the colossal rate. All this is because of the greater security and protection that digital currency provides.
Unproven statistics show that Venezuela accounts for 8 % of global Bitcoin transactions. This data is subtle, as country does not account for 8% of the total world population. This is a proof of BTC’s efficiency over the fiat currency.
According to the announcement made by World Bank in 2017, over two billion people will be unbanked. Bitcoin offer these impotent people access to financial services, opening new opportunities for them.