Amidst the strong crypto adoption by institutional and retail markets, Google has added a ‘crypto’ section to its Google Finance platform.
Google, arguably the world’s most powerful search engines, added the crypto section to the “Compare Markets” category. A click can now get users detailed information on price fluctuations within crypto markets such as bitcoin, ethereum, litecoin and bitcoin cash.
Google hasn’t always being a crypto fan
Video sharing platform, YouTube, which is owned by Google’s parent company, Alphabet, has not always been friendly to crypto-related contents. Reports showed that it was taking down crypto-related videos without clear reasons.
Prior to taking down videos on YouTube, there was an advertising ban on crypto-related adverts. Crypto companies legitimately offering crypto services were not allowed to run ads on any Google owned product. According to a post by the company, “We don’t have a crystal ball to know where the future is going to go with cryptocurrencies, but we’ve seen enough consumer harm or potential for consumer harm that it’s an area that we want to approach with extreme caution,”
In addition, Google suspended MetaMask from Google playstore. MetaMask is an app that enables users to hold ethereum with an exclusive ethereum wallet. After a significant loss in reputation, Google reversed the app suspension.
In Google’s defense, the popularity of cryptocurrencies have attracted very high profile scams, running into billions of dollars. Consequently, the search engine inadvertently harmed harmless crypto content creators and exchanges in its bid to protect users from crypto scams.
However, some of the publications and YouTube channels subject to suspensions have been overturned, as they do not infringe on Google’s terms of service.
Not a surprise
The addition of a ‘crypto tab’ by Google comes as no surprise, as the crypto industry has been seeing significant mainstream attention over the past few months. With major institutions looking in the way of bitcoin, and investing in the crypto asset class, information on crypto is becoming a necessity.
2021 has come with thrilling events in the crypto space. With Bitcoin crossing the $50k milestone and cryptocurrencies shooting past the $1 trillion market cap threshold, the year looks promising for crypto.
With major players like Black Rock and Tesla talking about bitcoin, a wave of approval and credibility is hitting those who were once critics of the decentralized currencies.
An expected valuation of $100,000 for bitcoin makes it a juicy investment for many, and with higher approval ratings in the past year, bitcoin could see larger corporations investing in it.