Google Searches For “Buy Bitcoin” Are More Popular Than Searches For “Buy Gold”

The popularity of bitcoin continues to rise. On Google searches for “buy bitcoin” has surpasse “Buy gold.” This has been confirmed through a review of international trends in the most popular search engine in the world.

According to the data of Google Trends, (an application that does not reflect the number of searches but expresses relative values ​​on a scale of 0 to 100) it is possible to compare the interest over time around the key terms. In this sense, a value of 100 indicates the maximum popularity of a term or keyword and represents the highest point in terms of search levels. Similarly, 50 represents a popularity in half, and 0 a popularity lower than 1%, both compared to the highest value of a chart in a given region and period.

Since then and until today, searches for “Buy bitcoin” are superior in popularity to those of “Buy gold”, registering the highest point in search levels between August 27 and September 27. In this way, the average interest over time with respect to bitcoin so far this year is higher than the respective average searches of the precious metal .

Similarly, it is presented for searches in English. Between May 21 and May 27 of this year it was recorded for the first time that “Buy bitcoin” had surpassed in popularity “Buy gold”, with an interest over time of 86 versus 45. However , unlike searches in Spanish, since they surpassed the popularity related to the purchase of gold, the interest over time with respect to the term “buy bitcoin” have not always been greater than those related to interest in around gold, so that, so far this year, the average popularity of “Buy gold” has been higher than the average of Buy bitcoin “.

In addition, from November 5 until today, Google has registered the highest point in levels of English searches linked to bitcoin, signaling 100 interest over time. However, as they indicate in the graph, it is an estimated value that they handle up to the moment of this investigation, since the values ​​are incomplete.

Reviewing the information obtained through Google Trends, the first time searches for the terms “Buy bitcoin” were registered was in June 2011, in which month a value of 37 of interest was recorded over time. for the search for “Buy gold”.

If we also look for “Buy bitcoin” and compare it with “Buy gold” we will find that the first time Google searches were registered was in May 2011. On that occasion, there was an interest over time of 44 for searches related to “Buy gold”.

Since then, in both cases, the popularity of the theme has been gaining strength, reaching its maximum values ​​this year.

To all the above, it can be added that the current value of 1 BTC according to CoinMarketCap equals 5.8 ounces of gold (according to Goldprice.org.es website gold is quoted around $ 1,284) approximately.

It should be noted that gold has been used for a long time as a speculative value against the dollar, inflation, economic crises and interest rates. There are those who point to gold as the refuge value par excellence, as for example, the president of the Spanish Association of Precious Metals of Investment. In addition, gold is the asset in which several countries in the world protect their reserves, highlighting the fact that the International Monetary Fund is one of the most concentrated gold , although it has sold part of such reserves in a limited way to increase its capacity. of granting credits to countries.

In this sense, there are diverse opinions about gold and Bitcoin. For the Apple co-founder, Bitcoin is better than gold , for New York University finance professor Aswath Damodaran, considered the Dean of Wall Street Valuation, cryptocurrencies are generally taking on the role of gold since the current generation prefers to buy these digital assets than grams of the precious metal.

On the other hand, investor Jhon Hathaway has pointed to cryptocurrencies as garbage . Even the gold industry is dabbling in the use of blockchain technology (technology that supports all cryptoactives) to optimize its processes. You can also highlight the fact that a house selling gold announced that it will accept Bitcoin as payment method .

It highlights the fact that Bitcoin development is still ongoing and prices are very volatile. For this reason, it is a matter of personal decision, based on a rich prior investigation, to choose gold or Bitcoin to shelter your capital or to invest.

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About the Author: Dara Steenburgh

Dara has been a reporter at with Crypoto Post Gazette since Nov. 2016. She enjoys running, practicing minimalism, reading whatever Oprah recommends, and trying out the next best skincare item that probably won't work. Dara is a graduate of Wesleyan University in Connecticut where she studied journalism, Arabic and international affairs. To contact Dara, just click here

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