Treasury's Bond Buyback Boosts Bitcoin to New Heights

The US Treasury's 'not-QE' playbook sent Bitcoin rallying this week as investors took advantage of increased liquidity without traditional quantitative easing. The price of Bitcoin jumped over 23% to nearly $79,000, while Ether crossed $2,400 in value.

The Treasury's move to double certain long-dated bond buybacks fueled the 'not-QE' trade, a strategy where investors take on risk assets without relying on quantitative easing. This development has raised questions about whether Bitcoin and other digital assets could become beneficiaries of such market support.

Standard Chartered sees Bitcoin heading toward $100,000, while Metaplanet is expanding its Bitcoin treasury strategy to the US. Cypherpunk Technologies made a significant bet on Zcash mining with a $33 million investment.