Bitcoin is surging to record highs on ‘FOMO’ and Joe Biden stimulus bets

“Bitcoin hits another all-time high”.

You’ve probably seen headlines like this way too many times recently, even if you have no idea what bitcoin is.

Speculation, “FOMO” (fear of missing out) and inflation hedging are some of the reasons why this volatile digital currency has surged more than 400 per cent in the past year.

Bitcoin’s supporters were excited when it hit $US20,000 on December 17, then celebrated again two weeks later — when it jumped to a new high of $US30,000.

It took just six…