- Bitcoin surged above $79,000 after the US Treasury announced it would double certain long-dated bond buybacks, a move analysts describe as a liquidity boost for risk assets.
- Standard Chartered sees Bitcoin reaching $100,000 by year-end, contingent on the asset holding above the key $65,500 technical level.
- Metaplanet is expanding its Bitcoin treasury strategy to the US by taking a controlling stake in Nasdaq-listed Super League Enterprise, while Cypherpunk Technologies launched a $33 million ZCash mining fleet.
Bitcoin and the broader digital asset market got a taste of “not-QE” this week after the US Treasury moved to double certain long-dated bond buybacks, sending prices sharply higher. The price of Bitcoin jumped more than 23% toward $79,000, while Ether’s price crossed $2,400, adding fuel to the question of whether risk assets could become major beneficiaries of the liquidity support.
Standard Chartered analyst Geoff Kendrick said Bitcoin could reach $100,000 by year-end as the US Treasury expands long-end bond buybacks, a move he described as “exactly the type of thing Bitcoin loves.” Kendrick noted that BTC’s key technical level is $65,500, and breaking above it could confirm the cycle low is in, according to a client note. The expanded program runs from Sept. 9 through Nov. 4, and Kendrick argues Bitcoin tends to benefit from government liquidity interventions due to its fixed supply.
Metaplanet plans to take a controlling stake in Nasdaq-listed Super League Enterprise, contributing 2,100 BTC and $2.5 million in cash to the entity, which will be renamed Superplanet. CEO Simon Gerovich said the structure gives two capital-raising avenues: Superplanet in US markets and Metaplanet in Japan. Meanwhile, Cypherpunk Technologies expanded into Zcash mining after acquiring a fleet from Winklevoss Capital in a $33.33 million equity deal, giving the publicly traded firm roughly 18% of the network’s hashrate.
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