Bitcoin Soars on Trump-Led Bill and Treasury Bond Purchases

Bitcoin's price surged for the third consecutive day on Friday, driven by a cryptocurrency bill led by Donald Trump and the Treasury Department's decision to increase bond purchases.

The world's largest cryptocurrency, Bitcoin, rose 6.9% to $77,675.94, its highest level since May, after gaining more than 20% since Wednesday.

The significant rally came as Trump urged lawmakers on Wednesday to pass the Clarity Act, a bill stalled in the Senate, and after the Treasury Department announced it would double its repurchases of sovereign bonds.

The move aims to reduce long-term borrowing costs, making riskier assets more attractive. This helped drive demand for cryptocurrencies like Bitcoin.