In early March, the price of one bitcoin surpassed the price of an ounce of gold, which was $1,227 at the time. The price of the yellow-tinted precious metal and the increasingly popular cryptocurrency aren't related in any meaningful way, but the event was notable as Bitcoin is often referred to as the digital gold, since it's a store of value that doesn't suffer from inflation.
That feels like ancient history now that the price of one bitcoin has surpassed $4,000.
The reason for Bitcoin's latest price surge is easy to pinpoint — investors are encouraged by the recent software upgrade and the split into two currencies, Bitcoin and Bitcoin Cash, both of which were complex and risky processes but went without a hiccup. Read more...
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