- Bitcoin rose nearly 6% after the US Treasury announced bond buybacks, approaching $70,000 for the first time since June.
- Bloomberg reported that the buyback plan aimed at lowering long-term yields sparked a new round of dollar selling as gold and Bitcoin rallied.
- US government debt surpassed $40 trillion, intensifying concern that rising borrowing costs and deficits reinforce each other and strengthening the Bitcoin debasement narrative.
Quotes
“The U.S. Treasury’s bond-buyback announcement helped send Bitcoin up nearly 6% with one analyst saying a broader recovery may be afoot.”
“Gold is surging again, Bitcoin is back in favor and the dollar is weakening.”