In brief
- Cryptocurrency funds added nearly $6 billion last week, a single-week record according to CoinShares.
- Bitcoin soared to a new high price above $125,000 early Sunday.
- Investors are looking to alternative assets to hedge against weakening currencies.
Investors threw a record amount of cash at Bitcoin and other crypto investment products, which racked up $5.95 billion last week as concerns around currency debasement worldwide sent alternative assets to record highs.
Data from a Monday report from digital asset manager CoinShares revealed that investors put the most amount of money ever into Bitcoin investment products during a single week—$3.55 billion in total.
CoinShares tracks funds around the world, but data from Farside Investors shows that most of that cash—over $3.2 billion of it—hit the U.S. Bitcoin ETFs.
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Author: Mathew Di Salvo
