2017 has been a good year for stock-market investors thus far. But the gains seen in even the strongest stock market sectors have been no match for the performance of “bitcoin” and other “cryptocurrencies.”

The price of a single bitcoin has skyrocketed by more than 325% since the start of 2017 (as of late August). Bitcoin’s total market capitalization — i.e., the price multiplied by the total number of bitcoins — has grown to more than $70 billion, putting the digital currency at roughly the same level of valuation as Caterpillar, Adobe, or Netflix.

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