Bitcoin Surges Above $68,000 as US Treasury Boosts Bond Buybacks

Bitcoin's price has surged above $68,000 for the first time this year, with its value briefly reaching just under $69,000 before stabilizing at around $68,500. This represents a three percent increase compared to the previous day.

The move coincided with an announcement by the U.S. Treasury Department, which plans to significantly boost its buybacks of longer-dated government bonds. The expanded program will allocate at least $4 billion per transaction, up from approximately $2 billion previously.

The measures aim to improve liquidity in the market for long-term government securities, which have seen rising yields and uncertainty surrounding inflation and public debt.