Bitcoin surpasses stocks in Google searches
|- For the first time since October 2017, Bitcoin rises above stocks in Google searches.
- The FCA will not regulate Bitcoin and other similar decentralized digital currencies.
According to the latest Google search trends, Bitcoin has become the most searched asset class in comparison to stocks. In the finance category, Bitcoin settled at 24 out of 100 whereas stocks ranked in the 14th spot for the month of June.
This is the first time since October 2017 that Bitcoin has risen above stocks in terms of Google searches. This suggests that interest is building towards Bitcoin and other decentralized currencies.
As reported by FXStreet, Grayscale survey showed that more than half of United States investors would consider Bitcoin as an investment. Moreover, investors are beginning to use Bitcoin as a hedging asset especially during the trade war between China and the United States.
The financial watchdog in the United Kingdom yesterday released guidance and rules that try to help investors to understand the classification digital assets. FXStreet reported that the Financial Conduct Authority (FCA) will not regulate Bitcoin and other similar decentralized digital currencies. However, investors are still asked to be aware of the risks that come with cryptocurrencies.
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