Tuesday, March 7, 2017

Bitcoin overtakes gold

This week is a symbolic one for bitcoin.

The price of bitcoin boosted up to 1,200 USD. Its value per one bitcoin is now more than one ounce of gold.

Seeking Alpha: A big week for bitcoin

Bitcoin is often compared to gold. The total amount of bitcoin is programmatically limited. No one can mine any more bitcoins over the limitation. This character of bitcoin, which is different from other digital objects, makes its value reliable.

However, Bitcoin's volatility is still an issue of anxiety for people who consider bitcoin as property. Its price sharply decreased in this January because of China government strengthened the regulation of domestic bitcoin trade. Fragility to the environmental change is one of the weaknesses of bitcoin, as a innovational new product.

No comments:

Post a Comment