Does Bitcoin Boom Mean ‘Better Gold’ or Bigger Bubble? QuickTake

The initial price of Bitcoin, set in 2010, was less than 1 cent. It recently crossed $23,000. Once seen as the province of nerds, libertarians and drug dealers, Bitcoin these days draws millions of dollars from hedge funds and companies like MicroStrategy and Square, while PayPal lets consumers use Bitcoin to pay for goods and services. The recent price surge could reflect recognition by the financial community that so-called cryptocurrencies -- digital forms of money -- can be useful, and that Bitcoin in particular can fill the role of gold as a hedge against inflation better than gold can. Or ...