Bitcoin Price Hits $78,888 as Stablecoin Conversions Fuel Rally

The price of Bitcoin reached a new high of $78,888 on September 9, 2026, marking a significant milestone in its recent rally. According to data from the Decibel platform, this price increase has been sustained over the past 30 days.

Anthony Pompliano reported that current buy orders for Bitcoin are being funded by direct stablecoin conversions rather than public equity sales. This means that investors are not selling their traditional stocks to buy Bitcoin, but instead converting their stablecoins into BTC.

Pompliano noted that the balance of stablecoins on centralized exchanges remained at historically high levels at the start of Q3 2026, providing immediate liquidity without relying on traditional banking approvals or fiat clearing windows. He argued that converting these instruments into Bitcoin marks the onset of an extended appreciation phase.