The market will be underpinned by up to $1bn in gold bars, or around two tonnes at current prices.
BitStamp offers to exchange gold only for US dollars now but it is going to add a bitcoin-for-gold option soon.
During the past two weeks, Bitcoin price has been doing not bad at all. Thanks to various reasons, the value of the most discussed cryptocurrency has managed to keep its head above the $260 mark.
BitGold Inc., a Canada-based bitcoin company, has launched the new software for gold trading.
Bitreserve has created a new gold standard, linking its bitcoin currency exchange and payment services with gold with the help of Gold Bullion International.
Due to confidence that Swiss gold is as safe abroad as it is at home, Swiss population intensely rejected a referendum to force the Swiss National Bank to hold 20% of its reserves in gold.
Citigroup Inc. states the initiative demanding the Swiss National Bank to store part of its assets in gold is senseless as it has no intrinsic value and is too costly to store.
According to Raoul Pal, the Global Macro Investor co-founder, bitcoin is likely to achieve value of $1,000,000.