BTC hits new ATH

Inflation rampant, the most valuable form of digital money, Bitcoin (BTC), leapt to a new all-time high on Wednesday, landing at about $67,200.

For several weeks, and not all that long ago, BTC was more or less caught between the moon and New York City, in a range between $40K and $50K.

Bursting through the $50K resistance level, clambering up past $60K, BTC would now seem destined for $80K, analysts are saying. Meanwhile, ETF manager Valkyrie said yesterday that its futures-based ETF will launch tomorrow (Friday, Oct. 22). Earlier this week, ProShares' BTC-tracking ETF launched to fanfare and ravenous investor take-up. VanEck is set to release a BTC ETF next week.

In something of a headwind, omnipresent political commentator/hedge fund industry figure Anthony Scaramucci ("The Mooch") has revealed that he is as "in as he can be" within the crypto space.

"The intrinsic value of music has been reduced to zero."

And with that, in 2015, Wu-Tang Clan's producers declared that the Staten Island-based hip hop group was producing one single copy of their new album "Once Upon a Time in Shaolin.”

The coveted art object eventually wound up in the hands of a disgraced pharmaceutical executive, Martin Shkreli. He reportedly paid $2 million for it. Later, he tried to sell it on eBay for $1 million. But the sale was never completed and the album was seized by the federal government after Shkreli was convicted of securities fraud.

Now we learn it has landed in the hands of NFT investment collective PleasrDAO which purchased it from the Feds for $4 million and perhaps plans to, Decrypt said, “curate listening parties across the world” so that the 31 tracks could be heard.

PleasrDAO’s Jamis Johnson, who carries the preposterous title of Chief Pleasing Officer, told Rolling Stone that the group’s priority is to “bring the album back to the people.”

It's so strange to think that back in the summer of 2013, with Robin Thicke and Macklemore songs playing nonstop on a loop, BTC languished under $100.

Four years later, Donald Trump was being sworn in as the U.S. President and BTC, for the first time ever, surpassed $1,000.

"Could it ever break $20,000?" was the question asked for months (and months) after BTC reached $19,800 near the end of 2017; an answer (hell yeah) would come in December of 2020. And the milestones kept coming, and going, along with camps of investors with varying views, as to whether new highs awaited, or a ceiling.

This latest rally, with BTC going above $67,000, has given rise to a fresh wave of bullish predictions, CoinDesk said.

“Bitcoin breaking its all-time high was a long time coming,” Ben Caselin, head of research and strategy for crypto exchange AAX, told CoinDesk in an interview, adding: “$100K is unlikely to be the end of it.”