More people are now searching online for how to buy bitcoin than they are expressing interest in buying gold, according to a new report.
Per Bloomberg, the surge in the cryptocurrency’s attraction is coinciding with a well-performing U.S. stock market to reduce interest in gold, that traditional safe haven. The news service looked at Google Trends to discover that “buy bitcoin” is now a more popular search term than “buy gold.”
It’s not hard to see why. Gold has appreciated this year by 11%, while bitcoin has gone up more than 600%, hitting $7,400 on the weekend before retreating below $7,000 (it’s $7,193 at the time of writing on Tuesday morning).
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