Crypto

Bitcoin Blasts Past $68,000 After US Treasury Doubles Debt Buybacks

Bitcoin Magazine Bitcoin Blasts Past $68,000 After US Treasury Doubles Debt Buybacks Bitcoin blew past $68,000 on Wednesday, jumping nearly 3% over a 24-hour period after news dropped that the U.S. Treasury planned to more than double the size of its government debt repurchases. The price of Bitco

Source: Bitcoin Magazine

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DW NOTE

The Treasury bought bonds last quarter because no one else would at those yields. Doubling the buyback programme now — with 20-year yields at multi-decade highs and a $1.4 trillion deficit through June — means the market is pricing in default risk the Fed cannot suppress. Bitcoin rose 3% because debasement is no longer theoretical.

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Bitcoin Blasts Past $68,000 After US Treasury Doubles Debt Buybacks

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