Bitcoin is now more valuable than gold
The currency’s success is in part due to its popularity in Asia.
The Bitcoin digital currency has exceeded the value of gold for the first time in history, hitting a high of $US1,278.21 while the price of an ounce of gold was worth $US1,236.10 at the time of writing.
The value of Bitcoin has been steadily increasing over the last three months, rising 30%, while the value of gold has decreased, suggesting people are starting to accept the digital currency as a serious way to pay for goods.
Bitcoin’s value has risen as a result of increased demand in China, despite a crackdown by the government, which claimed the currency is being used to take money out of the country. It also become more popular in India and Venezuela following the move to get rid of old notes according to Forbes.
Added to that, Bitcoin is becoming a more popular way to trade money and some retailers, including Dell, have started accepting it as payment for goods and services.
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