Bitcoin Beats Out Gold
Posted by: Timothy Weaver on 03/03/2017 02:28 PM
[
Comments
]
One bitcoin is now worth more than an ounce of gold.
According to CoindDesk's bitcoin price index, the value of one bitcoin rose $33.36 to a high of $1,263.72 while gold is trading at $1,233.30.
Microsoft, Dish and Subway now accept bitcoins along with at least 100,000 other merchants. However, the value of bitcoins has always been volatile. Its value plummeted in August 2016 after a hacker managed to steal millions of dollars’ worth of the currency.
It is speculated that the value of bitcoins corresponds to the weakened Chinese Yuan. Chinese traders favor the currency because it helps them avoid currency controls.
Source: CNET
According to CoindDesk's bitcoin price index, the value of one bitcoin rose $33.36 to a high of $1,263.72 while gold is trading at $1,233.30.Microsoft, Dish and Subway now accept bitcoins along with at least 100,000 other merchants. However, the value of bitcoins has always been volatile. Its value plummeted in August 2016 after a hacker managed to steal millions of dollars’ worth of the currency.
It is speculated that the value of bitcoins corresponds to the weakened Chinese Yuan. Chinese traders favor the currency because it helps them avoid currency controls.
Source: CNET
Comments
