If you’ve never heard of Bitcoin, you probably will soon. Bitcoin is an electronic currency beloved by technology enthusiasts and privacy advocates that happens to be prone to sudden, huge run-ups in value.
The currency can be used to make purchases at a few online and brick-and-mortar stores — as well as the vast online black market of which the recently busted Silk Road was a part.
But what it’s mostly good for right now is speculating.
Three months ago, a single bitcoin would get you $121 on the open market. Yesterday it closed at $600, reaching an all-time midday high of $901. As you can imagine, speculators have been having a field day with Bitcoin, and some early adopters have quickly become very rich.
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