SAN FRANCISCO — Digital gold. The new tulip mania. A
virtual currency.
Whatever you want to call it, Bitcoin is on an
extraordinary run, with the price of a single Bitcoin crossing $10,000 on some
exchanges for the first time on Monday — less than two months after it crossed
$5,000 for the first time.
It is a bull market with few precedents in recent
investing history. The Dow Jones industrial average, in its biggest year, 1915,
went up 82 percent, or one-tenth as much as Bitcoin has gone up this year.
Amazon’s red-hot stock is up only one-fifteenth as much as Bitcoin this year.
The price has been pushed up by a flood
of new buyers from around the world who
