From @CNBC Article by Evelyn Cheng @chengevelyn
http://www.cnbc.com/2017/05/04/bitcoin-surges-above-1500-to-record-as-more-investors-bet-on-digital-gold.html
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"Bitcoin surges above $1,500 to record as more investors bet on 'digital gold'
Bitcoin rose more than 4 percent to hit a record price of $1,553.18, according to CoinDesk.
Gold futures traded more than 1 percent lower to near $1,232 an ounce and haven't been above $1,500 for about four years.
Speculation of a bitcoin ETF in the U.S. and increased interest from Japanese investors also supported bitcoin prices.
Bitcoin surged further into all-time high territory Thursday as investors bet the digital currency will gain even greater acceptance globally as a store of value and an investment vehicle. At one point, bitcoin rose more than 5 percent to a record $1,568.59 before retreating slightly, according to CoinDesk. Data from TradeBlock showed some other exchanges had bitcoin above $1,600.
New interest in the currency out of Japan was the cause of the latest short-term upward move, traders said.
"Bitcoin can be thought of as digital gold," said Brian Kelly, founder of BKCM LLC and manager of a digital assets hedge fund. "The upside for bitcoin is so much higher than upside for gold, in my view."
Gold futures for June delivery fell to $1,225.70 an ounce on the New York Mercantile Exchange, its lowest level since March 17. The precious metal had topped $1,500 for about two years, even running above $1,800 at one point, but since early 2013 has not been able to recover back to the $1,500 level.
Bitcoin 12-month performance
Source: CoinDesk
Over the last two weeks, bitcoin has climbed about 25 percent into record territory on increased investor interest. The cryptocurrency got a boost last week from news that the U.S. Securities and Exchange Commission said it plans to review its listing rejection for what would have been the first U.S. exchange-traded fund that tracks bitcoin.
Since the April 24 filing, the digital, currency has only once traded lower on the day, according to CoinDesk.
"Right now it's speculation over the ETF. That's been the biggest thing," said Kelly, a CNBC contributor who launched the digital assets fund for outside investors this year.
Gold 12-month performance
Source: FactSet
Increased interest from Japanese investors has also contributed to bitcoin's gains. More than 10 Japanese companies are launching digital currency exchanges given increased legal recognition of the currencies and a scheduled elimination of a tax on digital currency purchases, the Nikkei Asian Review reported Tuesday. Bitcoin plunged more than 25 percent from record levels last month after the SEC denied the listing of the Winklevoss Bitcoin ETF, and subsequently the SolidX Bitcoin Trust exchange-traded product. A heated debate among bitcoin users about the technological future of the currency also hit prices."
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(Hi @cheetah ! lol)
WOW so I just HAD to post this article! And screw CNBC old money stock scammers! I dont feel bad stealing their content AT ALL they are all FINALLY accepting bitcoin when these assholes would go on TV and call bitcoin a scam or a fad....when everyone who does research understands how amazing it is and the smartest people who learn about it end up creating their own blockchain products like Ethereum! Which is an UPGRADE to Bitcoin which honestly could have been around in the early 90s maybe even the 80s! My article on how we could create bitcoin in the 1980s is here!
https://steemit.com/bitcoinforthe1980s/@ackza/can-we-create-a-crypto-currency-and-blockchain-so-small-and-efficient-it-can-work-on-1980s-personal-computers-like-commodore-64 9My other account @ackza) and oh i am giving out this cryptocoinupdate account once it reaches 400 SP an i can cash out the steem ive earned here minus the $2 singup bonus which I will leave in the account before i give it to someone
