Bitcoin is gaining more traction, fueled by endorsements from well-known figures, but its usage isn’t actually increasing significantly.

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This trend suggests that while Bitcoin is becoming more popular as an investment and speculative asset, its adoption as a medium of exchange remains relatively limited.

The 2023 Global Crypto Adoption Index by Chainalysis provides a clear visual representation of the decline in worldwide grassroots crypto adoption. The chart shows the adoption growth over time across 154 countries, indicating a downward trend.

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Sources:

https://www.chainalysis.com/blog/2023-global-crypto-adoption-index/

https://decrypt.co/48161/why-is-bitcoin-price-rising-here-are-5-key-reasons

https://www.forbes.com/advisor/investing/cryptocurrency/why-is-bitcoin-going-up/

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