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Stephen Gandel

Bitcoin Dips a Toe Into the Mainstream

Its legitimacy may be rising faster than its price.
Photographer: Sean Gallup/Getty Images

The status of bitcoin as a legitimate financial asset may be rising even faster than its price.

Just last month, Jamie Dimon, the CEO of the nation's big bank, JPMorgan Chase, said that bitcoin was A) a fraud and B) something his bank would never touch. Dimon said he would personally fire anyone who deigned to trade it. CME Group President Bryan Durkin, also in September, told Bloomberg Television that he didn't "see us going forward with a futures contract in the very near future.”