The price of Bitcoin has skyrocketed more than 1,200 percent this year. That's got people talking about the digital currency and wondering why it has climbed so high and whether its rise is a bubble which will burst.
MARY LOUISE KELLY, HOST: This year, the price of the digital currency bitcoin has gone up more than 1,200 percent. A single bitcoin is now worth more than $13,000.
KELLY MCEVERS, HOST: NPR's Uri Berliner is here with us now to talk about it. Hey, Uri.
URI BERLINER, BYLINE: Hey, Kelly.
MCEVERS: So explain what's happening. Why is this happening?
BERLINER: Well, there's a lot about bitcoin that's very opaque, like exactly who's buying and who's selling. But lately, there's been this frenzy. Investors just keep pouring in, buying bitcoin, especially in Asia, in countries like Japan and South Korea.
MCEVERS: Right. So it seems like this kind of obscure thing, but people feel pretty strongly about it - right? - pro and con.
BERLINER: Yeah. There's a lot of passion. If you just mention bitcoin to people in the financial world, you're going to get an earful. So Jamie Dimon - he's the CEO of JPMorgan Chase. He famously called bitcoin a fraud. But at the same time, there's a lot of big money in it like hedge funds. And the Winklevoss twins - remember them from the early days of Facebook?