Sign In

Bitcoin has overtaken gold for the first time

A Bitcoin (virtual currency) paper wallet with QR codes and a coin are seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, May 27, 2015. British authorities have come out in support of digital currencies in the name of promoting financial innovation, while proposing that regulations should be drawn up to prevent their use in crime. But it is technophiles who are leading the drive to make London a real-world hub for trade in web-based "cryptocurrencies", of which bitcoin is the original and still most popular. Picture taken May 27, 2015. REUTERS/Benoit Tessier - RTX1EWTP — Bitcoin has climbed above the price of one ounce of gold for the first time ever.

Image: REUTERS/Benoit Tessier

This article is published in collaboration with Business Insider

03 Mar 2017

Elena Holodny Writer, Business Insider

The price of one Bitcoin climbed above the price of one ounce of gold for the first time ever on Thursday.

The cryptocurrency climbed to $1,241.30 around 10:20 a.m. ET. Meanwhile, gold was around $1,241.25 at the time. Bitcoin dipped below the yellow metal minutes later, but then bounced back again.

As of 10:41 a.m. ET, Bitcoin is up by 1.8% at $1,248.10, while gold is down 0.6% at $1,242.15.

Image: Business Insider

Share

License and Republishing

World Economic Forum articles may be republished in accordance with the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International Public License, and in accordance with our Terms of Use.

Written by

Elena Holodny, Writer, Business Insider

This article is published in collaboration with Business Insider.

The views expressed in this article are those of the author alone and not the World Economic Forum.

More on Future of Enterprise View all

What you need to know about economic growth, revival and transformation

The shock inflicted by the pandemic on the global economy has been more severe and has occurred much faster than any other in recorded economic history.

Samantha Sault 19 Oct 2020

Yes, companies can save capitalism and the planet: this week's Great Reset podcast

For-profit companies can stop climate change and create a fairer society, but they must act fast. Two authors explain why on the latest episode of The Great Reset podcast.

Robin Pomeroy 16 Oct 2020

These 5 charts reveal the gender and diversity gaps start-ups must bridge

Kate Whiting 19 Aug 2020

How the world can ‘reset’ itself after COVID-19 – according to these experts

Kate Whiting 03 Jun 2020

How reform has made China's state-owned enterprises stronger

Amir Guluzade 21 May 2020

5 priorities for leaders in the new reality of COVID-19

Rich Lesser and Martin Reeves 07 May 2020