Is Bitcoin An Effective Substitute For Gold ?

During the first week of March this year, a momentous event took place – the price of bitcoin surpassed gold price on a per-unit basis for the very first time. Although this was largely an arbitrary occurrence, given that one bitcoin has no meaningful relationship to one troy ounce of gold, it was nevertheless a mark of how far this new, hotly-debated digital currency had come during its eventful eight or so years in existence. Since then, of course, bitcoin has tripled in value, and is currently sitting at its all-time highs. A growing chorus of analysts now predict that…...