Visits to Bitcoin’s (BTC) page on Wikipedia, the largest encyclopedia on the internet, reached approximately 13,500 on October 24, the highest number of visitors in the past 1.5 years. Experts attribute this increased interest to the recent price surge of Bitcoin and the promising ETF news.
Growing Interest in Bitcoin
The number of views on Bitcoin’s Wikipedia page saw a significant increase last week, reaching the highest level since mid-2022. According to data compiled by The Block from Wikimedia, the Wikipedia page of the largest cryptocurrency reached 13,490 page views on October 24. Rebecca Stevens from The Block Research suggests that the price increase and the potential approval of a spot Bitcoin ETF likely contributed to the increase in views.
Stevens stated, “The recent rally of Bitcoin and developments regarding the potential approval of a spot ETF have sparked increased interest in the asset. This newfound interest can also be demonstrated through more ordinary means, such as more people visiting Bitcoin’s Wikipedia page.”
BTC’s Price Rally and Spot Bitcoin ETF
Bitcoin’s price surpassed $35,000 on October 23 for the first time since May 2022. The price of the world’s largest cryptocurrency by market value increased by 13% last week and nearly 29% last month.
According to the latest data, BTC is trading above $34,000, recording a limited rise of 0.07% in the past 24 hours.
Analysts at banking giant JP Morgan, led by Nikolaos Panigirtzoglou, stated in a recent report that the timing of the approval of a spot Bitcoin ETF remains uncertain but should occur within months and most likely before the deadline of January 10, 2024, for the applications of Ark Invest and 21Shares. The report also mentioned that this is the earliest among the various deadlines encountered by the U.S. Securities and Exchange Commission (SEC) in spot Bitcoin ETF applications.
