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Bitcoin (BTC) Hits New High as CPI Hits 31-Year High, Quashing Inflation Hedge Doubts

bitcoin rocket

The price of Bitcoin suddenly surged by over $2,000 earlier today, cracking a new all-time high (ATH) above $69,000. The event coincides with the US consumer price-index (CPI), which measures inflation, jumping to a 31-year-high – 0.3% higher than government estimates. With the pace of inflation over the past year now at 6.2% it’s way beyond the Federal Reserve’s 2%…

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