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What are people buying with bitcoin? Gold and Silver


Bitcoin Black Friday Results Business Insider

Bitcoin Black Friday Results Business Insider

Source: http://www.businessinsider.com/bitcoin-b...

At least $7 million worth of bitcoin — or 6,296 coins — were spent on Black Friday, according to data from Bitpay, one of the country's largest payment service providers. )The price of Bitcoin averaged about $1,200 on Nov. 29.)

And what did a huge number of people buy? Gold and silver bullion. (The price of the latter, by the way, nearly matched bitcoin's on Friday).

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A Bitcoin is worth an ounce of gold?!

This whole system has gotten crazy.

Still, it increasingly makes sense to represent Bitcoin with a golden coin.

Symbolizes how shiny both commodities seem.

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