Bitcoin Costs 7 Times More Than A Gold Ounce

Bitcoin Costs 7 Times More Than A Gold Ounce

 

Bitcoin is targeting the point $10,000. On Monday it reached to all-time high of $9,700. Now it worths 7 times more than an ounce of gold. It had reached $5,000 by October, starting the year at $,1000. Experts believe that the currency is now more volatile than ever.

Bitcoin is a virtual currency that emerged in the aftermath of a financial crisis and allows people to bypass banks and traditional payment processes to pay for goods and services.

However, banks and other financial institutions have been concerned about the early associations of the currency with money laundering and online crime, and it has not been adopted by any government so far.

Banks and other financial institutions have been concerned about the early associations of the currency with money laundering and online crime. For that reason, governments are suspicious about adopting it as a legal currency. However, the latest developments show that international community becoming more trustful to this new currency type.

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