According to the chief digital assets analyst at Standard Chartered, Geoff Kendrick, Bitcoin could reach US$100k by year-end after the U.S. Treasury doubled some long-term bond buybacks, calling the move exactly the kind of thing the BTC market loves. The U.S. Treasury doubled the maximum cap for long-term Treasury bond repurchases, from US$2,000 million to US$4,000 million per operation, between September and November.
By buying these bonds, the Treasury pushes yields lower and injects liquidity into the financial system. According to Kendrick, fixed-supply assets like Bitcoin tend to strongly benefit from state interventions that improve market liquidity.
By buying these bonds, the Treasury pushes yields lower and injects liquidity into the financial system. According to Kendrick, fixed-supply assets like Bitcoin tend to strongly benefit from state interventions that improve market liquidity.