Crypto
U.S. Treasury considers using $950 billion cash balance for Treasury buybacks, bitcoin seen benefiting
The U.S. Treasury is reviewing whether to use the government’s General Account balance held at the Federal Reserve as funding for long-term Treasury buybacks. Using about $950 billion could help stabilise long-term rates and influence the bitcoin market. After the Treasury outlined plans to expand buybacks, bitcoin rose about 23% on the week to around $79,000, alongside inflows to U.S. spot bitcoin ETFs. Treasury market scepticism persists over the impact on long-term yields.
