That’s how much traders have poured into spot bitcoin exchange-traded funds over the last seven trading days, according to Dow Jones Market Data. It is the largest seven-day inflow since October.
The prices of bitcoin, gold and other alternative assets have surged in recent days, thanks to the so-called debasement trade. The idea is that long-term value of the U.S. dollar will be eroded by inflation and widening budget deficits, urging investors to consider dollar alternatives.