Bitcoin Jumps to New All-Time High, Gold Rallies, as Inflation Expectations Surge

Bitcoin Jumps to New All-Time High, Gold Rallies, as Inflation Expectations Surge
Perceived store-of-value assets like bitcoin and gold are rising as investors reassess the stickiness of inflation in the wake of a hotter-than-expected October reading in the U.S. consumer price index (CPI).The bitcoin (BTC) price has increased by nearly $3,000, hitting a new record high of $68,950, since the Labor Department’s CPI report was released at 13:30 coordinated universal time (8:30 a.m. ET). The report showed that the cost of living in the U.S. rose 6.2% year-on-year in October, marking the highest since 1990. Core inflation, which strips out the volatile food and energy component, rose 4.6%, the highest since August…