#Asia VIDEO: Bitcoin surge makes cryptocurrency worth more than gold

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The price surge may have hinged on a decision by the Securities and Exchange Commission on whether to approve a bitcoin fund proposed by the Winklevoss twins

The price of one Bitcoin surpassed the price of an ounce of gold today for the first time in history. Watch the video below to learn more. Transcript of video below:

The price of one Bitcoin surpassed the price of an ounce of gold for the first time in history. The price of one Bitcoin was US$1,271. Meanwhile, gold per ounce was priced at US$1,235.

Bitcoin is a type of digital currency created in 2009 by a software developer using the name Satoshi Nakamoto. Unlike dollars or euros, Bitcoins are not printed. Instead, computers “mine” them from a set number of Bitcoins.

Also Read: Southeast Asia gets its first Bitcoin startup incubator

One factor that may have led to Bitcoin’s price surge is a decision by the Securities and Exchange Commission on whether to approve a bitcoin exchange-traded fund proposed by Tyler and Cameron Winklevoss four years ago.


Copyright: lightboxx / 123RF Stock Photo

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