Bitcoin, as of this writing, is approaching $1,000.
The last time it traded that high, it was late 2013. Bitcoin went from about $100 to $1,000 in about 3 months. Here’s how the rise then compares to its current rise today:
But while $1,000 is a very interesting psychological level for Bitcoin, and could even signal new all-time highs, there’s something much more interesting going on. It has to do with gold.
Gold is considered the longest lasting true store of value. People have been trading, investing, and minting gold as currency for thousands of years. Today, gold is primarily measured in ounces. The standard unit is one ounce of gold and an ounce currently costs about $1,160.
As Bitcoin approaches $1,000, a unique situation begins to emerge. For the first time ever, 1 Bitcoin could soon be worth more than 1 ounce of gold: