Bitcoin Catches a Treasury Tailwind
Bitcoin (BTC) is up ~12% since yesterday after a burst of bullish crypto news (see below). But the bigger price tailwind may have come from Treasury, which plans to more than double debt repurchases to support liquidity in pressured long-term bonds. Yields fell as bitcoin rallied past $70,000 for the first time since June. Read more →
A White House Gathering
Some of crypto’s biggest names gathered at the White House yesterday, where Trump made several notable comments for the industry. He again urged the Senate to pass the Clarity Act, framing the market-structure bill – which has its first procedural vote scheduled for September 15 – as key to keeping the U.S. ahead of China. Trump also said CFTC Chair Michael Selig is working to bring Hyperliquid (HYPE) into the U.S. in a “fully compliant and legal fashion,” comments that helped send HYPE up ~17%.
And, because no Trump crypto event would be complete without a little bitcoin speculation, he left the door open to the government acquiring more BTC: “It’s been talked about,” Trump said, adding that bitcoin has been “very, very good for the dollar” and that he would “certainly listen” if regulators recommended additional accumulation. Read more →
Three Mistakes Crypto Investors Are Making Right Now
Bitwise CIO Matt Hougan thinks crypto is changing faster than investor perception. After arguing last week that revenue-generating projects remain overlooked, he now points to three more mistakes rooted in outdated assumptions. One is treating crypto apps as if they can serve only a roughly $2 trillion crypto market, even as tokenization puts far larger asset classes in view. What else are investors missing while their mental models catch up? Read more →
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