For the first time since 2017, „Buy Bitcoin“ search results doubled the „Buy Gold“ queries.
This comes at a time when institutional investors consider bitcoin to be better value than gold.
This is a positive indicator of the outlook for Bitcoin as a store of value
While the craze around Bitcoin (which helped push the asset’s price above $ 41,000) appears to have subsided, demand for and interest in Bitcoin Revolution still appears to be prevailing.
For the first time since the last big cryptocurrency surge of 2017, the results of the Google search terms trend for “buy gold” and “buy bitcoin” are heavily biased in favor of bitcoin .
Truth be told, the current trend means that people are looking for “buy bitcoin” twice as much as they are looking for “buy gold”.
Looking at the five-year trend , we see that the highest bitcoin searches of all time were in 2017. The current rise has only generated about 67% of the search volume recorded. previously, while prices are around 100% higher.
Bitcoin, the safest haven
This statistic shows that many people around the world continue to show massive interest in digital currencies rather than physical goods.
In this time of global economic, social and financial crisis caused by the coronavirus pandemic , more and more people are looking for ways to keep their property safe. Gold has always been considered one of the most stable assets. That said, it seems that today many are turning to Bitcoin to preserve their wealth.
The trend of buying gold hasn’t changed much over the past five years, while the trend of buying bitcoin has seen great volatility. This represents the current dynamic well, as many see gold as a more secure traditional asset (subject to less fluctuations than bitcoin), but also as potentially inferior technology.
This data cannot accurately suggest investors‘ outlook for Bitcoin as a store of value, but it at least confirms that interest has risen significantly along with recent price hikes.