A sign of the times. A changing of the guard. A handing off of the baton. Well, you get it. For the very first time online searches for how to buy Bitcoin has taken over searches for ways to buy Gold. We here at FintekNews have repeatedly preached that bitcoin is an alternative for gold (for tons of reasons) and by golly the online searches are bearing us out. BUT, we LOVE gold too. There is a lot of stuff coming to shake up the way gold will be traded (uh, CME Group) in the future. Makes sure your internet bills are paid so you can search.
(Bill Taylor/CEO)
- "U.K.’s BullionVault says bitcoin is another headwind for gold
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Gold’s advance faltered amid stronger dollar and equity gains
Bullion’s rally faltered in the past two months as the dollar strengthened and global equities set new records, while concerns over Brexit and Catalonia’s push for independence failed to drum up notable haven demand. Now, bitcoin’s surge is attracting investor interest toward the cryptocurrency and away from the metal, the biggest online vaulting service said.
According to Google Trends, global searches for “buy bitcoin” have overtaken “buy gold” after previously exceeding searches for how to purchase silver. Last month, the amount of gold changing hands on BullionVault’s online trading platform dropped by almost a third from the 12-month average..."
Full Story at Bloomberg