Investor Interest in Bitcoin Still Low Despite Efforts to Pump Price
According to a tweet published August 20, the Euro Pacific Capital CEO disputed the notion that interest in bitcoin is on the rise. Using data pulled from Google Trends, Schiff argued that the current interest in bitcoin is lower than its mid-2019 peak, despite massive efforts to pump the price of BTC.
Schiff also pointed to gold’s popularity, which generated more than five times as many search queries worldwide as bitcoin.
Podcaster and filmmaker Peter McCormack responded to Schiff’s tweet by offering a bet that bitcoin would outperform gold through 2029.
Schiff pointed out that while bitcoin may outperform gold, it also experiences regular market crashes, such as on March 13 when the price of BTC dipped below $4000.