Bitcoin is nearly three times the value of Gold

The value of Bitcoin [BTC], a virtual currency often dubbed as virtual Gold, is nearly three times the value of one ounce of Gold. BTC and gold prices hit parity about five months ago.

BTC prices soared to a record high of $3411 levels yesterday and were last seen hovering around $3380. Meanwhile, gold remains flat lined around $1258/Oz levels.

There is no evidence that the two assets are correlated. Bitcoin is in some way considered as a safe haven, but it’s still not a mainstream asset.

As per coinmarketcap.com, Bitcoin has gained 4.6% in the last 24 hours. Ether is up 2.8%. The total market capitalization of the crypto currencies stands at $118.65 billion.