Searches For “Digital Currency” Explodes 434% After The Digital Pound Announcement By The UK Treasury And Bank Of England
Searched For Digital Currency Explode
Google search data reveals that online searches for “Digital Currency” exploded by 434% in the UK on the 7th of February, after the UK Treasury and Bank of England announced plans for a digital pound.
Q4 2022 hedge fund letters, conferences and more
Gates Capital Management's ECF Value Funds have a fantastic track record. The funds (full-name Excess Cash Flow Value Funds), which invest in an event-driven equity and credit strategy, have produced a 12.6% annualised return over the past 26 years. The funds added 7.7% overall in the second half of 2022, outperforming the 3.4% return for Read More
A new finding by crypto trading guide Trading Browser reveals that online interest in ‘Digital Currency’ multiplied over four times the average volume just hours after the UK Treasury and BoE announced the digital pound project.
The virtual currency is a plan by the central bank to phase out the use of cash by the end of the decade and shield off a Big Tech competitor. It is also meant to act in the same manner as cash and hopefully help secure the country’s financial system.
Looking at the study, a spokesperson for Trading Browser commented: ‘The spike in search for digital currencies indicates that the public is eager to familiarise themselves with this trend. Digital currencies are fast becoming common in the central banking environment.
However, its acceptance will be successful if measures are put in place to ensure transactions are made in a highly secure digital eco-system.’