bitcoin, gold

Bitcoin’s price has reached parity with the per-ounce spot price of gold, according to the CoinDesk Bitcoin Price Index (BPI).

The per-ounce spot price for gold is $1,237.73, according to the XAU/USD spot exchange rate provided by Bloomberg Markets. Bitcoin’s price, by comparison, is at $1,238.11, having opened the day at $1,230.02, BPI data shows.

The move follows a break to new all-time highs for the price of bitcoin, which began the year by crossing the $1,000 mark.

Markets have seen dizzying changes in recent weeks, breaking through a three-year-old high on 23rd February. Prices have largely continued to climb since.

Driving the price is overall bullish sentiment in the market, as traders have seemingly taken a positive tack toward the prospects of the US SEC approving the first-ever bitcoin ETF.

The SEC has a deadline of 11th March to make its decision.

Overall, it’s been more than three years since the last time gold and bitcoin hit parity, though it’s worth noting that this was on Mt Gox, which was the only exchange that had a price to reach parity.

Image via Alex Sunnarborg for CoinDesk

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This article is intended as a news item to inform our readers of various events and developments that affect, or that might in the future affect, the value of the cryptocurrency described above. The information contained herein is not intended to provide, and it does not provide, sufficient information to form the basis for an investment decision, and you should not rely on this information for that purpose. The information presented herein is accurate only as of its date, and it was not prepared by a research analyst or other investment professional. You should seek additional information regarding the merits and risks of investing in any cryptocurrency before deciding to purchase or sell any such instruments.