Bitcoin is More Valuable Than Gold
Although the concept of Bitcoin has left many investors scratching their heads, there's no denying that it's becoming a juggernaut of an investment. It's so unstoppable, that one Bitcoin is worth more than twice as much as an ounce of gold! One Bitcoin is currently valued at just under $3,000, while the price of gold has hovered around$1,200 per ounce.
What is driving the surge in Bitcoin? Part of the surge is due to more businesses around the world announcing that they'll begin accepting the cryptocurrency as payment. In April, the nation of Japan announced that Bitcoin is a legal payment method along with the yen, and one of Russia's largest online retailers has announced that it will begin accepting Bitcoin, despite Russia mentioning that they wouldn't consider the currency until 2018 at the latest. Apparently the rally has changed a lot of minds.
For an awesome comparison, check out this great info-graphic that explains the difference between Bitcoin and gold from JM Bullion: