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Bitcoin is a type of equity no one has ever seen before, economist says
As Wall Street comes to grips with the cryptocurrency craze, investors are asking a question that has riven the industry since its formation—is bitcoin a currency or a commodity? But for Erik Norland, senior economist at CME Group CME, -1.11% which introduced its version of a bitcoin futures contract last Sunday, the cryptocurrency can be also understood as a rare form of equity—one so rare that investors have never seen it before. Bitcoin BTCUSD, -16.03% was in the throes of a major selloff Friday that took the digital currency below $11,000. It remains down 18% on the day near $12,757, according to CoinDesk. He ... (full story)