- Statistical information available on Google shows us that South Korean purchases make up more than 30% of the global cryptocurrency market.
- A number of trusted media outlets have recently reported that a little over 28% of all S.Koreans have invested in some digital currency or the other.
A quick look at BTCs associated stats on Google trends shows us that the flagship crypto asset is all set to explode in South Korea (within the next month or so). In this regard, we can see that S.Korea’s ‘BTC trends chart’ over the past week has seen the emergence of steep peaks that seem to indicate a rising level of interest from the masses towards the crypto-sector in general.
- The aforementioned data points to the fact that a large number of South Koreans are currently looking to invest in Bitcoin (or other similar commodities available in the market today).
- This rising consumer interest towards the crypto sector should not come as a major surprise for our readers since Korea (a nation with a 50 million-strong population) is already a leader in many fields such as consumer electronics manufacturing, e-sports etc.
- Studies released between 2017-19 suggest that the Korean masses have a “big appetite” for premier alt-assets such as Ethereum, Bitcoin, XRP, etc. Additionally, a number of reports also seem to suggest that the recent regulatory changes introduced by the current Korean regime might have contributed towards this latest spike in interest towards the crypto market.
- At the start of the year, the Korean government allocated a whopping sum of ‘1 trillion won’ (approx. USD 880 million) towards blockchain research as well as other similar crypto-development initiatives.
- Late yesterday afternoon, a spokesperson for KB Kookmin — one of Korea’s largest banking institutions — announced that his company was looking to develop and release a crypto custody platform in the near future.
In closing out this piece, it should be pointed out that as we move into the future, S.Korea could very likely have a big role to play in pushing the price of BTC to its new all-time high. For now, all we can do is simply wait and watch.