Bitcoin, the largest cryptocurrency in the world has been under the spotlight from various financial institutions and social media trends recently. Whether it is the SEC involved in the approval of an ETF or Jack Dorsey, CEO of Twitter, terming it as “internet’s native currency,” BTC has been on the bright side of a bearish market.
The rate of global BTC adoption is good news to Bitcoin enthusiasts too. According to recent data charted by Coinmap, the number of venues across the globe accepting Bitcoin [BTC] is up by over 702% since the beginning of December 2013, a massive feat achieved by the Bitcoin network.
The heatmap below demonstrates the increased number of venues accepting and dealing in the cryptocurrency:
The map highlights the rising number of entities which have legally started Bitcoin-based businesses worldwide. The figure at the close of 2018 is a massive 14,113 venues, a figure that is a long way from the 1,789 venues in December 2013.
Since December 2013, the total percentage hike in the number of businesses accepting the cryptocurrency is a massive 702.35%.
It is interesting to note that the most dramatic growth potential in business has been seen in organizations where the company offers to exchange their goods and services for Bitcoin by market capitalization. These areas have grown dramatically and currently, are displaying huge surges in Bitcoin usage from over the past five years.
The most notable part of the world seeing a dramatic rise in venues accepting Bitcoin is the northern part of South America. Venezuela, Colombia, and Ecuador are leading the continent in this context.
However, a majority of China and the subcontinental parts of South East Asia are yet to fully embrace the cryptocurrency, as the heat map suggests.