What are people buying with bitcoin? Gold and Silver
J Thoendell stashed this in Cryptocurrency
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).
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.