Nov 29, 2017
What a single day of Bitcoin gains can buy
Bitcoin is booming. Over just one day – from 9 a.m. ET Tuesday until the same time Wednesday morning – the value of the world’s foremost cryptocurrency increased by US$1,565.83 to more than US$11,000.
Below, BNN takes a look at what that single day of bitcoin profits could buy.
18 actual coins
The Royal Canadian Mint is selling a pure silver coin honouring the 50th anniversary of the Order of Canada for US$85.53 each.
One month of rent in Toronto
Getting an average-priced one-bedroom condo in Toronto costs roughly $2,000 per month, according to the latest data from Padmapper. That works out to roughly US$1,550.
READ MORE: THE RISE OF BITCOIN
Bitcoin tops US$11,000 after gaining US$1,000 in 12 hours
What is Bitcoin? A look at the digital currency
Full Bitcoin coverage at BNN.ca/Bitcoin
A new (used) car
It may not exactly be fresh off the lot, but this 1993 Mercury Cougar costs just US$1,295 and still “drives great.”
Actual gold
With the current price of gold running just under US$1,300 per ounce, one day of bitcoin gains would be enough to buy an ounce of gold with enough left over to pick up a gold-like watch.
A bitcoin printing press
Rather than buying bitcoins directly, some opt for acquiring them the original way: by devoting a certain proportion of their computer’s graphics processing power to “mining” bitcoin. Picking up five of these advanced graphics processors for roughly US$1,500 would effectively create a bitcoin mint.
