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

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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.

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