You could buy 100 boxes of avocados for the price of one bitcoin

Even with all the hand-wringing about bubbles in stock and bond markets, it’s hard to ignore what’s going on in the world of cryptocurrencies and bitcoin.

The value of the largest digital currency continues to soar to record highs after weathering a split last week. It has increased more than threefold this year, compared with a doubling in the value of Vertex Pharmaceuticals, the best performer in the S&P 500 Index.

At the record price of $US3,486.73 reached overnight, one bitcoin could probably fund a nice holiday. By comparison, one share of Vertex at $US154.82 would get you a fancy dinner.

Here’s some other stuff you could buy for the price of one bitcoin, including but not limited to 100 22-pound (10 kilograms) boxes of Hass avocados. That’s one tonne of avocados.

Bitcoin’s market value is now around $US56 billion ($71 billion), surpassing that of General Motors and just shy of Tesla. It still has work to do if it wants to eclipse the world’s richest man, though. Bill Gates is currently worth about $US90 billion.

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Source: You could buy 100 boxes of avocados for the price of one bitcoin – The Sydney Morning Herald