Bitcoin Just Hit an All-Time High. Is It a Buy?
Popular cryptocurrency Bitcoin (CRYPTO: BTC) hit an all-time high on Wednesday after the Bureau of Labor released troubling inflation data for the Consumer Price Index (CPI). In short, consumer inflation just hit a 30-year high, causing investors to seek inflation-proof places to park their money. And Bitcoin is one of these perceived inflation hedges.
Whether this particular issue continues to catalyze Bitcoin's adoption remains to be seen. After all, the federal government is working to get inflation under control. So the fundamental question is whether the cryptocurrency will generally be in demand going forward. And there's reason to believe it will. Here's why Bitcoin could be a good investment even at all-time highs.
Image source: Getty Images.
Source Fool.com
