Google Searches for both Gold and Bitcoin Increase but Gold Takes the Reigns

As we experience some of the greatest financial turmoil of the last 50 years the global financial system seems to be one tremor away from complete collapse. The largest jump in US unemployment in history, GDP is tanking, the federal reserve is printing funny money, and we are seeing some of the largest fiscal packages ever.

Money Printer go Brrr

Certain subsets of people are beginning to recognize the fragility of the system and are looking for hedges against it. A Bitcoin holder will obviously tell you to buy Bitcoin. While a Gold holder will tell you to buy Gold and then silently suggest you bury the bars in the garden.

But where are people looking in actuality? By looking at Google Trends data we can get some insight.

Over the past 12 months search trends for both ‘Buy Gold’ and ‘Buy Bitcoin’ have remained relatively stable. That is up until the latest financial calamity unfolded. Pictured in red is ‘Buy Gold’. Pictured in blue is ‘Buy Bitcoin’.

Google Search Trends Over 12 Months

When we look over the past 30 days we get a more accurate perception of what is going on in the minds of the masses.

Google Search Trends Over 30 Days

At the start of the month both remained relatively stable. While as Coronavirus gradually infected the financial system both rose. Bitcoin spiked hugely on the 13th of March. Doubling in a day. The 13th of March you may remember as the day Bitcoin fell over 50% in value. It seems that large number of people were interesting in scooping up cheap Bitcoin. Briefly overtaking search interest in Gold.

However as prices Bitcoin prices stabilized while the S&P500 continued to crumble Gold took the reigns and has continued to increase in interest since while Bitcoin interest fell.

Month on month search interest in Bitcoin has increased by 27% while interest in Gold has increased by 50% and current search interests put its 127% higher than Bitcoin.

But what does this tell us? Both assets are being seen as hedges against the system. (Although the Bitcoin price chart does not give that impression) However Gold still remains better at permeating into the mind as the better hedge against the status quo.

To end the article on a more dull note for both gold and Bitcoin fanatics. ‘Buy Stocks’ (Pictured in yellow) still remains the top dog by far.