Bitcoin’s price has reached parity with the per-ounce spot price of gold, according to the CoinDesk Bitcoin Price Index (BPI).
Markets have seen dizzying changes in recent weeks, breaking through a three-year-old high on 23rd February. Prices have largely continued to climb since.
Driving the price is overall bullish sentiment in the market, as traders have seemingly taken a positive tack toward the prospects of the US SEC approving the first-ever bitcoin ETF.
The SEC has a deadline of 11th March to make its decision.
Overall, it’s been more than three years since the last time gold and bitcoin hit parity, though it’s worth noting that this was on Mt Gox, which was the only exchange that had a price to reach parity.