Bitcoin and Gold Soar on Bond Market Uncertainty

Bitcoin and gold prices surged this week after a series of events that created uncertainty in the bond market and Treasury Department actions.

The U.S. Treasury Department announced plans to significantly increase its buybacks of long-term Treasurys on Wednesday, which led to a dollar sell-off and a jump in the value of both gold and Bitcoin.

Gold prices rose above $4,661, up from around $4,000 in June, while Bitcoin blasted through the $67,000 level, reaching over $77,000.