The Unlikely Catalyst: How Washington's Bond Buyback Fueled Bitcoin's Surge The Treasury Department's decision to buy back long term bonds has unexpectedly contributed to a surge in the price of bitcoin.
On Thursday, the cryptocurrency briefly topped $72,000, sending shockwaves through the crypto community and raising questions about the intersection of finance and policy.
A perfect storm of factors contributed to the sudden jump in bitcoin's value, including a massive short squeeze triggered by the Treasury's announcement.