For the First Time, Bitcoin is More Valuable Than Gold

Posted March 3rd 2017


via Engadget

Today marked a weird but auspicious moment in human history. The value of a single bitcoin, the most mainstream of cryptocurrencies, surpassed the price of one ounce of gold. While that’s specifically due to a good trading day for the former and slightly bad one for the latter, resulting in a moment where a loosely-comparable unit of bitcoin value topped that of gold, both have been trending toward this point for awhile.


Both are alternative assets, but “gold has traditionally been used as a more secure bet than volatile investments like real estate,” explains Engadget’s David Lumb “so bitcoin’s rise in value is encouraging for cryptocurrency advocates who have been hoping it could supplant the ‘gold standard’ of safer investing.” As it continues to gain value, bitcoin should prove easier to accept as a legitimate form of currency.