Financial and Monetary Systems

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

Elena Holodny
Writer, Business Insider
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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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Financial and Monetary SystemsEmerging-Market MultinationalsDevelopment Finance
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