Indian interest in Bitcoin has skyrocketed following sudden rupee reforms, revealing serious potential to challenge major markets including China.
Also read: India Becomes No.2 Bitcoin Amazon Buyer Amid Rupee Shake-Up
India Bitcoin Searches Spike as Rupee Falls
Bitcoin.com reported Thursday on India’s government withdrawing the country’s two highest-value banknotes, supposedly in a bid to curb corruption.
The notes are already worthless, but Indians appear to be losing rather than gaining faith in the rupee.
India turns to Google to find out how to launder money https://t.co/Zt9oYGQYAl via @Darkwyr pic.twitter.com/DDsjgCYNGW
— Lucy Meakin (@lucy_meakin) November 11, 2016
Citing Google Trends searches for ‘buy Bitcoin,’ cofounder of Indian startup Unocoin Sunny Ray unearthed a startling reaction to last Monday’s decision.
“Buy Bitcoin” on google trends in India. pic.twitter.com/1mPmJee6JX
— Sunny Ray (@SunnyStartups) November 11, 2016