Bitcoin’s meteoric price rise is showing no signs of slowing down and its latest all-time high has priced the asset higher than a 20 ounce gold bar.
Over the past six hours, Bitcoin prices topped $40,000 briefly according to Tradingview.com. The move has added a further 5% over the past 24 hours and the rally is showing no signs of cooling down yet.
Industry observers often call Bitcoin “digital gold” as it is a store of value asset, and this latest price peak pushed prices higher than those for the standard 20 ounce gold bar.
At the time of writing, gold was currently trading at $1912/oz according to Goldprice.org, so a 20 ounce bar would set you back $38,240. Bitcoin’s price, taken at the same time, was a little over $39,000.
— Documenting Bitcoin (@DocumentBitcoin) January 7, 2021
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