Home›Crypto›Market Structure›Bitcoin jumps as Treasury expands long-dated bond buyb…

Bitcoin jumps as Treasury expands long-dated bond buybacks

The US Treasury plan will at least double buyback operations for 10- to 20-year and 20- to 30-year bonds, running from Sept. 9 through Nov. 4.

Reported · Written up by our desk · Market Structure

Bitcoin rose more than 23% toward $79,000, and Ether pushed above $2,400, after the US Treasury moved to double certain long-dated bond buybacks, reinforcing a so-called “not-QE” liquidity trade, according to Cointelegraph.

The expanded buyback program covers 10- to 20-year and 20- to 30-year coupons and is scheduled to run from Sept. 9 through Nov. 4, a timeline that helped lift prices immediately as long-dated yields fell.

In a client note cited by Cointelegraph, Standard Chartered’s Kendrick pointed to a key technical level for BTC at $65,500, saying breaking above it could confirm a cycle low, while also linking Bitcoin’s appeal to government liquidity efforts and its fixed supply.

The “not-QE” narrative is also showing up in corporate moves, with Metaplanet expanding its Bitcoin treasury strategy to the US by taking a controlling stake in Nasdaq-listed Super League Enterprise. Cointelegraph reports Metaplanet plans to contribute 2,100 BTC and $2.5 million in cash, which it values at roughly $145 million and says is from existing treasury, representing under 5% of its 43,000 BTC holdings, with Super League set to be renamed Superplanet.

Latest closeBitcoin $84,310.25 ▼0.1%|Nasdaq Comp. 26,749.30 ▼0.7%

More like this

Sources