Investors are rushing to pad their portfolios with both new and traditional inflation hedges, a sign higher prices won't abate anytime soon.
Following October's 6.2% surge, annually, in consumer prices, reported on Wednesday, crypto and gold prices spiked.
Bitcoin surged above the $68,000 level, just below its all-time high of $68,525.84, as tracked by CoinDesk.
|BITO||PROSHARES TRUST BITCOIN STRATEGY ETF||36.29||+0.21||+0.58%|
|GCC||WISDOMTREE TRUST ENHANCED COMMODITY STRATEGY||20.02||+0.22||+1.11%|
|BITQ||EXCHANGE TRADED CONCEPTS TRUST BITWISE CRYPTO INNOVATORS E||27.47||-0.78||-2.76%|
In turn, various crypto exchange-traded funds also rose.
|GLD||SPDR GOLD SHARES TRUST - EUR ACC||165.24||-0.92||-0.55%|
By the same token, gold, a traditional inflation hedge, rose nearly 2% to $1,862.50. The SPDR Gold ETF traded higher in tandem.
The yellow metal is on pace for its fifth straight session of gains and year to date has fallen over 3%.