Why Bitcoin Surged to New Heights This Week

The world's bellwether cryptocurrency Bitcoin (CRYPTO: BTC) reached a fresh all-time high earlier this week, at one point hitting the $69,000 mark before settling down to just over $64,000 Friday afternoon. When the smoke cleared, Bitcoin had advanced by nearly 7% from the close of business the previous Friday.

Since Bitcoin is the cryptocurrency for many people throughout the globe, there's rarely a single factor pushing it higher or lower. While that dynamic applies over the past week, we can zero in on one concern in particular that gave the digital coin its latest lift -- inflation.

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Source Fool.com