Bitcoin is Now Worth Nearly Three Times the Price of Gold – Futurism

In Brief After a weekend of significant gains, Bitcoin has continued that trend by being worth nearly three times the price of gold.

Gold is often seen as an investment safe-haven due to the long term stability of the commodity. It is also often used as a standard by which to compare cryptocurrency, especially Bitcoin. Many of the leading cryptocurrencys major milestones have been viewed in terms of their comparison to gold.

The latest numbers are truly staggering. The price of Bitcoin reached a high today of over $3,400 (at the time of writing it stands at a similarly impressive $3,390.66), while the price of an ounce of gold is $1,260.40. This leaves Bitcoin at nearly triple the price of gold, renewing speculations about the ability of Bitcoin to become a substitute for gold.

This is great news considering the tumultuous recent history of Bitcoin that resulted in amuch-dreaded splitting pointfor the currency. Still, Bitcoin has never been stronger in spite of (or perhaps thanks to) the upheaval.

Bitcoin also enjoyed some significant gains this weekend, crossing $3,200 for the first time in history.

Bitcoin, and cryptocurrencies in general, are enjoying an uptick in public visibility, which is undoubtedlyfortifying the impressive gains being made. It will be interesting to see how meteoric the rise of Bitcoin will continue to be.

Disclosure: Several members of the Futurism team, including the editors of this piece, are personal investors in a number of cryptocurrency markets. Their personal investment perspectives have no impact on editorial content.

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Bitcoin is Now Worth Nearly Three Times the Price of Gold - Futurism