Is now the time for individual investors to put some money in bitcoin?

It’s a question that financial advisers increasingly hear these days. With bitcoin up more than fourfold this year and a series of high-profile “initial coin offerings” raising more than $2 billion in total, according to CoinDesk’s ICO Tracker, the number of investors interested in digital currencies has been picking up, wealth-management professionals say. Earlier this week, bitcoin was trading at more than $4,880.40 after ending 2016 at around $968, according...