Why is Bitcoin’s Wikipedia Page Surging in Popularity?
Bitcoin Popular on Wikipedia
The number of page views on Bitcoin’s Wikipedia page reached its annual peak last week, which may seem contradictory considering the cryptocurrency’s improved performance this year. So, why are so many people searching for the flagship of the crypto industry now?
Bitcoin’s Wikipedia Page Views
According to the crypto analysis platform, The Block, Bitcoin’s Wikipedia page registered a total of 7,830 views on September 9th, marking its highest level of the year. This surge in page views is quite remarkable, especially considering that Bitcoin’s price is currently lower than its annual peak reached in July, just below $32,000. Back then, Bitcoin rapidly increased from $25,000 to its highest price in 13 months, mainly due to the influx of Exchange Traded Fund (ETF) applications from financial giants, including BlackRock.
The Block offers a possible explanation for this recent increase in page views:
“This can be attributed to the greater likelihood of a spot Bitcoin ETF being approved soon, prompting people to look up what Bitcoin is all about.”
Possible Arrival of a Bitcoin ETF?
The increased likelihood of a spot ETF for Bitcoin is closely related to the recent victory of crypto asset manager Grayscale in its lawsuit against the U.S. Securities and Exchange Commission (SEC) to launch such an exchange-traded fund. The SEC, which has been rejecting all Bitcoin spot ETF applications for years, is now forced to reconsider Grayscale’s application.
However, despite the court ruling, the SEC postponed the decision on all pending ETF applications two weeks ago. This means that the hope for an ETF is not yet extinguished. The financial regulator must make final decisions by early next year.
The race to be the first to obtain approval in the United States has become even more intense. Franklin Templeton, one of the world’s largest asset managers, has joined the competition by filing an application with the SEC this week.
Overall, the surge in page views on Bitcoin’s Wikipedia page can be attributed to the increased likelihood of a Bitcoin spot ETF being approved. This has piqued the interest of investors and the general public, leading them to search for information on the cryptocurrency. As the battle for ETF approval intensifies in the United States, it seems that more people are turning to Wikipedia to gain a better understanding of Bitcoin and its potential future as an investment.