Bitcoin climbs above gold for the first time

The price of one Bitcoin climbed above the price of one ounce of gold for the first time ever on Thursday.

The cryptocurrency climbed to $1,241.30 around 10:20 a.m. ET. Meanwhile, gold was around $1,241.25 at the time. Bitcoin dipped below the yellow metal minutes later, but then bounced back again.

As of 10:41 a.m. ET, Bitcoin is up by 1.8% at $1,248.10, while gold is down 0.6% at $1,242.15.

gold and bitcoinAndy Kiersz/Business Insider

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BERLIN, GERMANY - APRIL 25: In this photo illustration a weathered model Bitcoin stands on a table on April 25, 2014 in Berlin, Germany. (Photo by Thomas Trutschel/Photothek via Getty Images)
This picture taken on April 25, 2014 shows Japan's first bitcoin auto teller machine (ATM), produced by Robocoin and imported from the United States, at Suzuka in Mie prefecture, central Japan., an IT firm based in western Nagasaki city, plans to set up the country's first ATM for bitcoins next month days after failed exchange MtGox was ordered to start bankruptcy proceedings. AFP PHOTO / JIJI PRESS JAPAN OUT (Photo credit should read JIJI PRESS/AFP/Getty Images)
NEW YORK, NY - APRIL 23: (L-R) Charlie Shrem, Daniel Mross and Nicholas Mross attendTribeca Talks: After The Movie: The Rise and Rise Of Bitcoin during the 2014 Tribeca Film Festival at the SVA Theater on April 23, 2014 in New York City. (Photo by Astrid Stawiarz/Getty Images for the 2014 Tribeca Film Festival)

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