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Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

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Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'

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Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
Finance

Bitcoin Just Became More Valuable Than Gold

Lucinda Shen
By
Lucinda Shen
Lucinda Shen
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Lucinda Shen
By
Lucinda Shen
Lucinda Shen
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March 3, 2017, 7:54 AM ET

The cost of a single Bitcoin rose above the cost of an ounce of gold for the first time on Thursday.

That trend held up Friday, with Bitcoin rising to $1,289.09 per unit while its fellow safe haven asset, gold, fell to $1,231.5 per ounce, based on March futures.

While their units of measurement are not comparable, the falling price of gold and rising price of bitcoin is still nonetheless, significant. Demand for gold, which investors flock to in times of uncertainty and volatility, has fallen since the election on a stronger dollar, signs of future interest rate hikes, and potentially business-friendly policies that may arise from the Trump administration. Those potential regulatory changes would raise the chances of higher-yielding stocks.

The more volatile digital currency, on the other hand, has recovered with from a plunge in January. That’s at least partially due to expectations that one (or more) of three proposals for a Bitcoin exchange traded fund may gain approval from the Securities and Exchange Commission, The Wall Street Journal reports.

About the Author
Lucinda Shen
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