Scott Bessent just kicked the bitcoin debasement trade into another gear: Chart of the Day - Yahoo Finance
Bitcoin prices surged following Treasury Secretary Scott Bessent's decision to increase bond buybacks. Analysts suggest Bitcoin is increasingly being viewed as a 'debasement trade' against government monetary policy.
Why it matters
The trend highlights Bitcoin's growing role as a hedge against traditional fiat currency volatility and government fiscal intervention.
Scott Bessent just kicked the bitcoin debasement trade into another gear: Chart of the Day Jared Blikre Mon, August 24, 2026 at 1:10 AM EDT 3 min read BTC-USD +0.62% GC=F +0.44% DX-Y.NYB +0.21% ^TYX +0.74% ^GSPC +0.43% Trade BTC on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Bitcoin ( BTC-USD ) had its best week in more than three years as stocks fell. Scott Bessent helped light the match.
The cryptocurrency surged roughly 23% this week, blowing through a months-long trading range as gold ( GC=F ) jumped about 5% and the dollar ( DX-Y.NYB ) fell. The S&P 500 ( ^GSPC ), meanwhile, lost ground.
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