Bitcoin, gold rally after Treasury doubles long-term bond buyback limit

Treasury Secretary Scott Bessent's Aug. 19 decision to raise the maximum per-operation repurchase of 10-, 20- and 30-year Treasury bonds to at least $4 billion from $2 billion helped drive a rally in bitcoin and gold rather than a meaningful bond-market response. Bitcoin, quoted at $76,920.16, surged to nearly $80,000, prompting billions of dollars in short-position liquidations across the broader crypto market, while gold and silver also advanced. Analysts said the move highlighted officials' concern about elevated long-duration borrowing costs and fueled expectations of more aggressive liquidity easing. Yet the 30-year yield remained around 5.25%, above its Aug. 19 low of 5.19% and close to the 5.33% reached on Aug. 18, the highest level since 2007. Rising national debt, which has reached $40 trillion, and expected deficit spending point to further borrowing and bond supply, limiting the impact of a $4 billion buyback program.

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Bitcoin, gold rally after Treasury doubles long-term bond buyback limit - CoinPost Terminal