Bitcoin and ether hit record peaks on Tuesday, with enthusiasm for cryptocurrency adoption and worry about inflation driving momentum and flows into the asset class. Though both virtual currencies pulled back from their highs in the US session, their trajectory was clearly headed higher. Bitcoin rose as high as $68,564.40 and was last down 0.1% at $67,325 while ether, the second-biggest cryptocurrency by market value, earlier hit $4,842.65 before trading down 0.7% at $4,774. Both have more than doubled since June and added nearly 70% against the dollar since the start of October.
Published in The Express Tribune, November 10th, 2021.