As more and more people seek protection from inflation in 2021, monthly research into home purchases around the world has produced some interesting results.
The data shows that the average number of monthly searches for the keyword “Buy Bitcoin” has reached 241,000 worldwide, three times as high as for “Buy Gold” and almost six times higher than for “Buy Ethereum”. The numbers are extracted from the search engine optimization tool (SEO) Ahref.
In particular, the search volume for the above keywords is led by the USA and Great Britain.
The results show that people in the United States search for “Buy Bitcoin” 116,000 times per month, which is 48% of global searches, roughly three times the search for the keyword “Buy Gold” which is 39,000 times for 65% compared to other countries.
Search volume for keywords buy bitcoin, buy gold and buy ethereum worldwide | The source. Ahref.com
The Covid-19 pandemic has made people aware of many things, one of which is the importance of saving and investing. Those who made the right financial decisions before the pandemic can maintain their standard of living during the lockdown.
So in the midst of a pandemic, people started looking for safe investments to store their income. Traditionally, gold has long been considered a solid inflation hedge as it is accessible to everyone from all economic backgrounds in society. And above all, gold is the reserve currency of the central banks.
Bitcoin, on the other hand, is a blockchain-based digital currency with some similarities to gold. Because of its poor correlation with other assets – especially stocks – many used to refer to Bitcoin as “digital gold”.
Gold not only outperforms Bitcoin in legitimacy, transparency, and security, but has also been far less volatile in the past.
Microstrategy promotes Bitcoin buying
However, as a store of value, Bitcoin has outperformed gold. In 2020, MicroStrategy bought Bitcoin for the first time, and CEO Michael Saylor called the move a hedge against the expected decline in the US dollar. Currently, the total number of BTCs the company holds is 114,042.
Recently Michael Saylor tweets:
“Gold is down 10.5% while Bitcoin is up 332% over the same period. Gold has returned to 0% year-over-year, while Bitcoin is up 146% year-to-date over the same decade. Why do people still argue what is the supreme store of value? “
Although the price of Bitcoin has risen several times recently, investors are still expected to see it rise even higher in the near future. Many crypto proponents believe that Bitcoin’s market cap could surpass that of gold by 2030.
Bitcoin price chart | Source: Tradingview
Bitcoin price is currently at $ 48,656, up 1.72% in 24 hours and 8.14% in the last seven days, while gold is currently at $ 1,755 / ounce, up 1% at the time of the Going to press.
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According to Finbold