One Bitcoin unit has surpassed, for the firs time in history, the price of a gram of hold. Yesterday evening, one Bitcoin was worth $1,265 while 1 gram of gold was worth $1,233.
The recent increase is due to the increased demand fro China, where authorities warn that Bitcoin is used to transfer funds outside the country.
The recent changes represent a major change for Bitcoin which in 2014 experienced a very low value. The Bitcoin price was mostly unstable ever since its appearance in 2009 and many experts wondered how long the virtual currency is going to be around.
At the beginning of this year Chinese authorities have tried to stop Bitcoin operations in an attempt to stop funds being transferred illegally, However, China’s efforts only managed to lower the Bitcoin value a bit but it increased again later on.
The price of one Bitcoin unit has started to catch up with the gold’s value in 2016 when, according to some studies, many investors traded their gold for Bitcoin.
Would you trade your gold for Bitcoin ?