Major cryptocurrency surged on Thursday evening, despite hawkish comments from Minneapolis Fed PresidentNeel Kashkari.

What Happened:Bitcoin, which dropped to as low as $65,000 overnight, surged during much of the U.S. day, reaching a high point of over $69,000 at one stage.

"If we continue to see inflation moving sideways, then that would make me question whether we [need] to do those rate cuts at all," said Kashkari during a virtual event on LinkedIn.

Given that Kashkari has been one of the more hawkish members of the Fed, his comments shouldn't have come as a complete surprise, but they...