Fueled by speculation that a bitcoin ETF could be approved by the Securities and Exchange Commission in the next week or so, the price of bitcoin has risen steadily, finally surpassing the cost of an ounce of gold on Thursday.
As of press time, one Bitcoin was worth $1,273 according to CoinDesk's Bitcoin Price Index, and an ounce of gold was worth $1,244, according to precious metals retailer APMEX.
The market capitalization of all outstanding bitcoin also surpassed $20 billion for the first time in bitcoin's history, according to Coinmarketcap.
The SEC is expected to make a decision on a bitcoin ETF proposed by Tyler and Cameron Winklevoss, the former Olympians who now run the cryptocurrency exchange Gemini and venture fund Winklevoss Capital, by March 11.
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