A single bitcoin is now roughly twice as valuable as an ounce of gold.
The most recent flurry of buying helped send the price of bitcoin up over $2,600 in trading Friday, while the value of gold has stayed at about $1,267 per ounce. Bitcoin’s value has since pared its gains, and traded at about $2,433 midday Friday.
Just two months ago, bitcoin only just inched above the value of gold.
The surge comes as the cryptocurrency gains legitimacy in countries such as Japan, and Chinese regulators...