Bitcoin, gold rally as investors turn to alternative assets
(AP photo)
Bitcoin and gold surged last week week as investors moved into alternative assets amid turbulence in U.S. bond markets and fresh support for the crypto sector from Washington.
Bitcoin rose above $77,000 on Aug. 21 after falling below $60,000 in June from a January high near $95,000. Gold climbed to $4,661 after dropping to around $4,000 in June from a record above $5,300 earlier this year.
Markets reacted on Aug. 19 after the U.S. Treasury Department announced plans to at least double purchases of longer-term government debt following a bond sell-off. On the same day, President Donald Trump urged Congress to advance crypto legislation.
