The Price of Bitcoin is Now Worth One Ounce of Gold

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Bitcoin’s worth has reached parity with the per-ounce spot worth of gold, in response to the CoinDesk Bitcoin Price Index (BPI).

The per-ounce spot worth for gold is $1,237.73, in response to the XAU/USD spot alternate fee offered by Bloomberg Markets. Bitcoin’s worth, by comparability, is at $1,238.11, having opened the day at $1,230.02, BPI knowledge reveals.

The transfer follows a break to new all-time highs for the value of bitcoin, which started the yr by crossing the $1,000 mark.

Markets have seen dizzying modifications in current weeks, breaking by way of a three-year-old excessive on 23rd February. Prices have largely continued to climb since.

Driving the value is general bullish sentiment out there, as merchants have seemingly taken a constructive tack towards the prospects of the US SEC approving the first-ever bitcoin ETF.

The SEC has a deadline of 11th March to make its resolution.

Overall, it has been greater than three years because the final time gold and bitcoin hit parity, although it is value noting that this was on Mt Gox, which was the only exchange that had a worth to achieve parity.

Image by way of Alex Sunnarborg for CoinDesk

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