Argentina has the greatest potential for Bitcoin adoption in the world. According to the Bitcoin Market Potential Index (BMPI), Argentina tops the list of ten countries with the highest relative potential for Bitcoin adoption followed by Venezuela, Zimbabwe, Malawi and the United States. China ranks only 27th in this survey conducted by the London School of Economics. Index for investors
The survey is the first attempt at assembling a new data set to rank the potential utility of Bitcoin across 178 countries. In effect, it has confirmed that not much has changed since the first ranking was released in 2014.
Economic historian at the University of Cambridge and London School of Economics, founder of MacroDigest , Garrick Hileman , summed up the results of the survey to Cointelegraph: “…assuming the same ranking criteria, for the vast majority of countries the picture today is likely still largely similar to what it was two years ago, with a few exceptions.” Garrick Hileman, Founder of MacroDigest According to Hileman, the index was created for entrepreneurs and investors planning to locate or expand operations so as to better understand which markets may prove most fertile for Bitcoin adoption – that is the utilization of Bitcoin and blockchain technology for a variety of monetary and non-monetary functions.
Forty variables related to Bitcoin’s current core functions – store of value, medium of exchange, and technology platform – are grouped into the index’s seven equally weighted sub-indices namely technology penetration, international remittances, inflation, size of informal economy, financial repression, historical financial crises, and Bitcoin penetration to calculate BMPI’s rankings.
The relationships between most of the BMPI variables are expected to be self-evident for those generally familiar with Bitcoin. Technological advancement a key
For example, Bitcoin is fundamentally a technology, it says, and the level of technology adoption in a […]
