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A Treasury bond buyback expansion and a White House push for crypto legislation combined to lift Bitcoin nearly 23% this week
YASIN AKGUL/AFP via Getty Images
Bitcoin was on course Friday to close out its strongest week in two years, having climbed roughly 23% over the five-day period from $62,836.88 to $77,226.96 as a combination of macroeconomic and policy developments fueled the advance.
The move began Wednesday when the Treasury Department announced it would at least double the size of its bond buyback operations for longer-dated securities, raising the per-operation maximum from $2 billion to at least $4 billion for the 10-to-20-year and 20-to-30-year sectors. Yields on long-dated Treasuries fell sharply in response, easing pressure on risk assets and drawing buyers into cryptocurrency markets. Wednesday's bond-market reaction was substantial: the 30-year Treasury yield shed nine basis points, and according to CoinDesk, a Bloomberg gauge tracking Treasuries with maturities of 20 years or longer recorded its sharpest one-day advance since February 2025.
