Bitcoin Surges Above $80K on US Treasury's Bond Buyback Boost

Bitcoin's price surged above $80,000 after the U.S. Treasury announced it would double the cap on long-term bond buybacks.

The move is seen as a signal of increased liquidity in older securities and managing cash balances, not to provide monetary stimulus.

BitMEX co-founder Arthur Hayes argued that increased buybacks lower yields, making risk assets like Bitcoin more attractive.

However, investors await actual buyback data and Treasury yield movements to confirm this trend, as the expanded buybacks starting September 9 could influence market liquidity and Bitcoin's trajectory.