CNBC analyst Brian Kelly identifies two macro catalysts that are pushing Bitcoin (BTC) to its highest level since it crashed in May.
In a new episode of Fast Money, the CEO and founder of digital currency investment firm BKCM says that issues primarily affecting traditional assets like stocks and bonds now influence the price of Bitcoin as the cryptocurrency becomes increasingly used as an inflation hedge.
“There’s quite a few tailwinds here. That’s what’s going on here. We’ve talked about it over the year how Bitcoin has become more of a macro asset, so it started to respond to stuff like the debt ceiling drama and higher inflation, and if you look at the correlation between Bitcoin and oil, that is now positive on