21.6 C
27 September 2023
Image default

Schiff: Investor Interest in Bitcoin Still Low Despite Efforts to Pump Price

-Gold bug Peter Schiff says investor interest in bitcoin remains low despite efforts to pump the price.

-Google Trends data shows search queries for bitcoin worldwide are much lower than bitcoin.

Gold bug and regular crypto critic Peter Schiff says investor interest in bitcoin remains low despite the recent price rally which took BTC above $12K. 

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.

News Source

Related posts

Bitcoin Mining Giant Bitmain’s CEO Accused Of Embezzlement


Bitcoin To Reach $115k In 12 Months


Bitcoin’s price expectation depends on how much money you have