US investment company: Bitcoin spreads faster in emerging markets than developed countries, but is not sensitive to price fluctuations

According to Brave New Coin, US investment company Passport Capital said Bitcoin is more popular in emerging markets than developed countries, but it is not sensitive to price volatility. The chart shows that bitcoin trading volume in developed markets (blue) is similar to the trajectory of bitcoin prices, which is in stark contrast to the volume of emerging and frontier markets. Emerging market (orange) Bitcoin has been more stable, even when prices have fallen. LocalBitcoins data shows that bitcoin trading volume in emerging markets has risen from less than $100,000 per week in 2012 to nearly $50 million per week in recent statistics.