Treasury's Surprise Move Sends Bitcoin Soaring Above $67,000

Bitcoin and gold saw significant gains this week as investors sought alternative assets amidst rising bond market uncertainty.

The U.S. Treasury Department's surprise announcement to double its purchase of long-term Treasurys sent bond yields lower, causing a dollar sell-off and prompting a surge in the value of both bitcoin and gold.

President Donald Trump's call for Congress to pass crypto-friendly legislation also contributed to the uptick in cryptocurrency prices. Bitcoin had been stuck between $62,000 and $67,000 for weeks before breaking through that level on Wednesday.