Bitcoin climbs to 1-month high as inflation raises concerns - Breaking The News
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Bitcoin climbs to 1-month high as inflation raises concerns

Markets
Christian Baha / BU

1 min read

EPA-EFE/SASCHA STEINBACH

Bitcoin added near 2% on Thursday, reaching a level last recorded on January 5, after the United States Labor Department said that inflation in the country reached 7.5%, a 40-year high.

Unlike Bitcoin, which is often touted as an asset with inflation-hedge properties, Ether slid, seemingly mimicking the trading of technology stocks, which plunged after the report.

Bitcoin jumped 1.79% at 12:49 pm ET, selling for $45,213, while Ether lost 1.16% a minute later, going for $3,205.02.

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