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Bitcoin notched a fresh all-time high on Wednesday as investors cheered the successful launch of the first U.S. bitcoin futures exchange-traded fund.
The world's largest cryptocurrency climbed about 3% to $66,361.54 around 10:30 a.m. ET, topping a previous record of $64,899 set in mid-April.
Bullish comments from a legendary trader also boosted sentiment. Billionaire investor Paul Tudor Jones called crypto his preferred inflation hedge over gold.
"Bitcoin would be a great hedge. Crypto would be a great hedge," Jones told CNBC's "Squawk Box" on Wednesday. "There's a plan in place for crypto and clearly it's winning the race against gold at the moment ... I would think that would also be in very good inflation hedge. It would be my preferred one over gold at the moment."