In recent years, those affiliated with the anti-government, anti-Federal Reserve and anti-fiat money crowd have turned to the peer-to-peer decentralized virtual currency bitcoin. For years, individuals and investors that were concerned with debt, deficits and a weak dollar turned to gold as the ultimate safe haven, but now bitcoin is starting to become the alternative currency.
Case in point is the latest news that an owner of a Yukon gold mine is selling the property for $2 million worth of bitcoins. The mine is stationed in Dawson City and has been in the midst of the 1890s Klondike Gold Rush. The company earns approximately $1 million per year and does have the potential to produce as much as 4,000 ounces of gold each year, which would be pegged at close to $6 million.
The small but producing mine is being listed by an unknown seller on BitPremier, a so-called bitcoin marketplace for all things luxurious – the advertisement does not confirm if the seller will accept anything else besides bitcoin. The sale also consists of $1 million worth of mining equipment.
“A well-respected, fully compliant and profitable company, any new buyer could recoup their initial investment in as little as two mining seasons,” the ad stated.
For more than a decade, the yellow metal reached record highs and climbed to nearly $2,000 an ounce a couple of years ago. However, gold has slumped and had its worst year in 2013 as it declined 18 percent. The 6,000-year-old precious metal, meanwhile, started off the year hot but has since fizzled.
At the time of this writing, gold is trading at around the $1,275 mark, while silver is still below $20 at $19.53 per ounce. Bitcoin has also declined: after surging from less than $400 to $650 in a matter of weeks, it has dipped back close to $530.
