News Bitcoin _ What’s the Big Deal About Bitcoin Above the Gold Price Anyway?
As the Bitcoin price approached parity with the gold price, the significance of the price event elicited much debate in the Bitcoin Community. While many bitcoiners take bitcoin-gold price parity as evidence of the digital currency’s continued success, some analysts suggest the event is meaningless.
“What is even a troy ounce?” Josh Crumb, Bitgold (now Goldmoney) co-founder and CSO, tells Bitcoin.com. “Is it the same unit as a bitcoin? The value is not truly at parity, as gold is still a 322 times larger market than bitcoin,” he reasons. “If some other company achieves the same share price as Apple, you don’t say it’s reached parity with Apple. You have to look at the market capitalization.”
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Topic: [2017-03-03] What’s the Big Deal About Bitcoin Above the Gold Price Anyway? (Read 288 times)
March 03, 2017, 03:12:24 AM
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