We all know that Bitcoin is growing fast. Some people have made fortunes on this cryptocurrency, and analysts say it can reach $400,000. A lot of people are looking to get in on this fever, but what if I told you there is a commodity that has gone up in price more than Bitcoin?
Yes, you heard right, there is indeed such a commodity. It’s called iridium. This rare metal since the beginning of the year rose in price by 131%, ahead of bitcoin, which increased in price by 85%.
Iridium is a by-product of platinum and palladium mining. It started the year at $2,600, but on March 26 it hit $6,000 per ounce.
The reason prices have soared is quite simple, mainly because of supply disruptions last year, but also because of growing demand from display and car spark plug manufacturers.
However, don’t rush to look for the product on the stock exchange because it is not traded there. Iridium is very rare, so the only way to buy it is to contact the suppliers or the manufacturers directly.