Interest in Bitcoin in the US Has Fallen to Nearly a Five-Year Low

Although President Trump has brought cryptocurrencies to the forefront under his administration, this has not led to an increase in interest in Bitcoin in the US, at least not on the internet.

According to Google Trends—a tool that allows tracking the search frequency of specific terms in different regions—interest in Bitcoin is near a historical low, despite the fact that cryptocurrency and related topics, including prediction markets, have attracted widespread public attention since President Trump took office due to his favorable stance towards cryptocurrencies.

For the week ending August 1, Trends assigned the term "Bitcoin" a popularity score of 18; similar scores were exceeded in October and September 2023, as well as in November 2022, when the cryptocurrency ecosystem had not yet reached the significance it holds today.

In contrast, Google Trends records the first week of February as the period when interest in $BTC peaked over the past five years. During that week, one of Bitcoin's largest sell-offs in history occurred: prices of $BTC fell by 30% to around $60,000 following a sharp decline in the technology sector.

Google Trends' relative numerical scale reflects the level of search interest relative to the maximum value for the specified region and period. This means that the number of searches for the word "Bitcoin" has fallen to less than one-fifth of the figures recorded during the February sell-off, which was assigned the maximum score (100).

These numbers emerge as the crypto ecosystem awaits a vote on the "Clarity Act"—a key cryptocurrency regulatory document—in the US Senate this week, despite the lack of confirmed bipartisan support for its passage. Furthermore, an attack on the Coldcard hardware wallet on Saturday, which resulted in the loss of over 1,300 $BTC by affected users, did not impact these metrics.

Nevertheless, according to a report by River, Bitcoin recently surpassed gold as the preferred investment asset in the US. The company determined that 49.6 million Americans—nearly one-fifth of the adult population—own $BTC, while only 28.8 million people hold gold.