Cryptocurrency Bitcoin immediately spiked higher and hit an all-time high of nearly $69,000 per coin around 45 minutes later, according to CoinDesk.
Hitting a 30-year high is particularly discouraging because the past three months had shown relative signs of improvement.
Because inflation hasn’t been this big of a problem in 30 years, investors are naturally looking for ways to hedge against inflation now more than ever.
Therefore, if you own or are thinking of buying some, it would be more beneficial to focus on the underlying fundamentals of the Bitcoin blockchain network.