Bitcoin Surges on Treasury Buyback, Inflation Fears Spark Debasement Trade Revival
The recent Treasury Buyback has triggered a surge in Bitcoin's value as investors return to the debasement trade.
The move, which saw the US government purchase $2.6 trillion of its own debt since 2020, has led many to flock back to cryptocurrencies like Bitcoin (BTC) in search of safe-haven assets and protection from inflation.
According to BitRss, a leading cryptocurrency news platform, this development marks a return to the debasement trade, where investors bet on inflation and currency devaluation.