A look at the inherent risks if Bitcoin. Heralded as "the currency of the future", in November, 2013 a unit of bitcoin briefly became more valuable than an ounce of gold, soaring to $1,242 from less than $15 in January, 2013. Unlike gold and traditional currencies, bitcoins have no intrinsic value and are not backed by a national central bank. Bitcoins derive their value solely from market demand.