Last week, Bitcoin reached a high of about $20,000 on some exchanges. The cryptocurrency has rapidly shot up in value.
Last month, one Bitcoin was valued at about $7,000. People are mortgaging their homes and taking out lines of credit to get in on the action, according to Joseph Borg, president of the North American Securities Administrators Association. What is bitcoin? How do cryptocurrencies work? And is the run-up in its value a bubble or something more consequential?
Nathaniel Popper, a San Francisco-based reporter covering finance and technology for The New York Times, and author of Digital Gold: Bitcoin and the Inside Story of the Misfits and Millionaires Trying to Reinvent Money
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