Bitcoin Is A Few Bucks Away From Gold
Nov 29, 2013, 20:18 IST
The price of Bitcoin is now within a stone's throw of the price of gold.
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The digital currency already set a record earlier today on the Mt. Gox exchange, touching $1,242 (it's since come back down to $1,162).
Meanwhile, gold is at $1,250 an ounce.
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At this point, the unending surge in Bitcoin prices appears to be riding a wave of speculative momentum. The price of a March Bitcoin future on Swedish-based ICBIT.se (though on admittedly thin volume) is more than $1,700.
Here's a helpful chart, from Bespoke Investment Group:
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We'll update this as soon as the cross actually occurs.