Treasury's 'Not-QE' Playbook Sends Crypto Market Soaring

The US Treasury's decision to double long-dated bond buybacks has sent shockwaves through the crypto market, with Bitcoin (BTC) surging over 23% towards $79,000 and Ether's price crossing $2,400.

Standard Chartered analyst Geoff Kendrick believes this move is exactly what BTC loves, citing its fixed supply and resistance to monetary debasement. He predicts BTC could reach $100,000 by year-end if it breaks above its key technical level of $65,500.

Metaplanet is expanding its Bitcoin treasury strategy to the US with a deal to take a controlling stake in Nasdaq-listed Super League Enterprise, renaming it Superplanet. The Tokyo firm will contribute 2,100 BTC and $2.5 million in cash to Super League, worth roughly $145 million or around 5% of Metaplanet's holdings.

Cypherpunk Technologies is also making a move into Zcash (ZEC) mining after acquiring a fleet from Winklevoss Capital in a $33.33 million equity deal, giving the firm around 18% of the network's hashrate.