Bitcoin Tops $75,000 For First Time In 3 Months, Up By Over $10,000 In 2 Days
Bitcoin prices surged past $75,000, driven by optimism regarding potential US cryptocurrency legislation and changes in US Treasury bond buyback policies. The rally reflects increased investor appetite for riskier assets amid shifting economic conditions.
Why it matters
The rapid appreciation of Bitcoin highlights the significant impact of political policy and macroeconomic shifts on digital asset markets.
Bitcoin surged Friday on optimism over US cryptocurrency legislation and the US Treasury's surprise move to buy back more of its own bonds, which fuelled a shift to riskier assets.The world's biggest cryptocurrency by market value climbed 6.9 per cent to $77,675.94, after reaching its highest level since May, and is up more than 20 percent since Wednesday.Friday was the third consecutive day in which bitcoin jumped more than five per cent.The sharp rise came after US President Donald Trump urged lawmakers on Wednesday to pass the Clarity Act, a bill to spur cryptocurrency use that has stalled in the Senate.Bitcoin was also boosted by the US Treasury's…
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