United States: increased interest in Bitcoin and gold
Google Trends reveals a significant increase in searches regarding gold and Bitcoin, partly due to the various banking crises in the US.
Bitcoin and gold: increased search engine searches on how to buy them
According to 90-day statistics from Google Trendsit looks like that interest in gold and bitcoin is increasing sharply.
In fact, the query “how to buy bitcoin” achieved an exact score of 100 during the day March 20. The same thing happened with the query “how to buy goldbut on April 6.
Specifically, the gold-related search term generated significant interest in regions such as Singapore, Australia, St. Helena, United Arab Emirates (UAE) and Canada. Currently, the search result is around 62, according to data from Google Trends.
Meanwhile, Bitcoin-related interest on Google Trends comes from regions such as Nigeria, Guam, Cameroon, St. Helena and Mauritius.
Not only that, this data emerged after the failures of three major US banks: Silvergate Bank, Silicon Valley Bank and Signature Bank. In fact, on the search engine, the most searched searches in mid-March included words such as “banking crisis” and “bank run”.
Bitcoin and gold as “stores of value” act as safe assets
Both Bitcoin and gold have always been seen as “stores of value” assets that can serve as safe harbor assets in times of market uncertainty or catastrophic macroeconomic situations.
Not only that, Bitcoin is often referred to as “digital gold,” precisely because it is considered the virtual, decentralized version of the classic gold bar.
According to Glassnode’s on-chain data, there has been one strong correlation between Bitcoin and gold prices the last 12 months.
In this first quarter of 2023, Bitcoin (BTC) went from a price of $16,500 on New Year’s Eve to $23,000 in mid-February. BTC is currently worth $29,500after also surpassing $30,000.
The price of gold (XAU) also rose from $1,823 on New Year’s Eve 2023 to $1,810 in mid-February. Currently, gold is worth $1,985as high as $2010 in early April.
BTC leads in the number of transactions in the B2B sector
Recently, Coins Paida platform dedicated to crypto payment solutions for the B2B sector, launched its report for the first quarter of 2023.
From what emerged, it indeed appears that it even in B2B, Bitcoin ranks first in terms of number of transactions. In practice, on the CoinsPaid platform, the number of BTC transactions stands for 62.5% of the total.
Then see CoinsPaid Tether (USDT) transactions in second place with 10.4% of the total. In third place, however, would be Ethereum (ETH) with 10.2% of the transactions of the total.
The platform also points out that in the first quarter of 2023, the number of total transactions increased by as much as 3.5 times to 212,637.
Again, the increased use of the platform and crypto may be a consequence of the US banking upheaval.
