The sentiment on the crypto market can be measured using data from Google Trends. Most searches come from El Salvador. Of course: the Bitcoin country par excellence. In Nigeria too – the government is trying to push through the digital central bank currency by tough means – the population is very interested in a decentralized alternative.
When searching for “Bitcoin” the highest prices were reached, there were special events. These included the ETF approval – in the Bitcoin Report you can find out everything about the current ETF figures –, the all-time high and the halving.
Since then, however, interest in the number one cryptocurrency has been declining. The situation is different with the raw material gold. The much more well-known store of value appears far more frequently in the Google search bar.
By the way: In theory, Bitcoin is a better store of value than gold. While the precious metal inflates by up to two percent annually, BTC inflation is now at 0.85 percent.
Is Bitcoin unsuitable as a means of payment for this very reason? Does a store of value really have to be a currency at the same time – and what does all this have to do with the blockchain trilemma? You can read the answers to these questions – including further details about Bitcoin in general – in the current BTC-ECHO Bitcoin Report.
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