At time of writing, Bitcoin is valued at roughly $1,270 (coindesk) whereas a gram of gold is valued at roughly $1,230. It marks an interesting milestone for Bitcoin, which has had a volatile existence in its young life.
After collapsing in value in 2014, Bitcoin has been surging again lately due to its popularity in China, where the authorities are trying to crack down on its use, claiming that the crytocurrency is used to move money out of the country illegally.
It has also been scrutinized in the Western world because it is the currency of choice for black market trade online.
Written by: James Delahunty @ 3 Mar 2017 13:34