Google, the most popular indicator that tracks the popularity of Bitcoin (BTC), celebrated its 23rd birthday on Monday.
The search engine was founded by Larry Page, Sergey Brin, and their Stanford University students. It has been around for 23 years.
Google is the most popular search engine to find new coins, track market trends, and learn how you can buy cryptocurrency.
Google Trends is a reliable tool for understanding user interests in near-real-time, as internet search statistics can be a great way to track user behaviour. The tool analyzes search queries popularity over a period to identify emerging patterns.
Before they became the central stage of the crypto ecosystem, initial coin offerings (or ICOs), decentralized finance, or DEFi, and nonfungible tokens, or NFTs all saw a surge in Google Trends.
Quick searches for Bitcoin show that the interest of internet users almost matches the volatility of the biggest cryptocurrency. Similar overlap is evident in the charts of Dogecoin (DOGE).
Related: Google and Dapper Labs, NFT leader, partner to support Flow blockchain
Googles position on cryptocurrency mirrors that of the mainstream, despite the fact that it uses neutral statistics. In March 2018, following the infamous ICO boom, Google banned cryptocurrency-related advertising on its platform via an update to its Financial Services policy.
The search giant has since softened its stance on the matter, announcing that crypto ads from regulated entities is now possible. Although the company does not allow DeFi ads, celebrity endorsements or crypto-related celebrity endorsements, advertisers who are registered with Financial Crimes Enforcement Network may advertise their crypto wallet and exchange services.