Bitcoin Tops $81,000 as Dollar Weakens, Raising Questions About “Debasement Trade” Bitcoin surged past $81,000 on Monday, its highest price since January, before pulling back to trade near $79,098 on Tuesday morning in New York, according to market data. The 23% weekly gain coincided with a U.S. Treasury announcement that it would at least double the size of its liquidity-support buyback operations, a move that has weakened the dollar. The developments have led market observers to ask whether the “debasement trade” — buying assets to hedge against currency devaluation — has returned. What Happened and When The biggest cryptocurrency hit…
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