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: Bitcoin sets new record, trading above $62,000

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Bitcoin rose to a new record on Tuesday, with the cryptocurrency lurching higher in European hours.

Bitcoin
BTCUSD,
+4.10%

rose as high as $62,457, continuing the breakneck growth that has taken one-year gains to over 800%.

The rise comes ahead of key U.S. inflation data, which are expected to show the fastest gain in consumer prices in nearly two years. More important may be Wednesday’s initial public offering of Coinbase, the cryptocurrency exchange, which lends still more official credence to the sector.

Jim Cramer, the CNBC commentator, tweeted the bitcoin rally may impact the Coinbase pricing.

Europe Markets: European stocks inch higher as markets look to key U.S. inflation data

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