The initial price of bitcoin, set in 2010, was less than one cent. On Nov. 29, it crossed $11,000. Once seen as the province of nerds, libertarians and drug dealers, bitcoin today is drawing millions of dollars from hedge funds. The recent price surge may be a bubble. Or it could be a belated recognition by the broader financial community that so-called cryptocurrencies — digital forms of money — are going mainstream. It might be time to nail down what a bitcoin is, and why its price has been going through the roof.1. What exactly is bitcoin?It’s a form of money that’s remarkable for what it’s not: It’s not currency you can hold in your hand. Read more here…

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