Global surge: exploring cryptocurrency adoption with evidence from spatial models
Ivan Sergio, Jan Wedemeier
Abstract
Abstract Pricing dynamics and volatility are accelerating the adoption of global cryptocurrency. Despite challenges, cryptocurrencies such as Bitcoin are gaining widespread acceptance, particularly in countries with unbanked populations, the lack of bank controls, and inflation. This study investigates the global patterns of cryptocurrency adoption using Generalized Linear Models and Spatial Autoregressive Models. This research introduces a novel perspective on global cryptocurrency adoption using spatial models. Our findings reveal that cryptocurrency adoption is significantly influenced by economic instability, infrastructure availability, and spatial dynamics, with higher adoption rates in countries with limited access to traditional financial systems.