Bitcoin prices have been on the rise since the US announced bond buyback plans. Victor Besa / The National

Bitcoin prices have been on the rise since the US announced bond buyback plans. Victor Besa / The National 21.08.2026

Bitcoin experienced a significant price surge, climbing nearly 20% in a week to reach as high as $75,740 during an extended Asia trading rally. The rally was fueled by US Treasury Secretary Scott Bessent's announcement to double bond buybacks, which renewed market enthusiasm for cryptocurrency. VanEck's head of digital assets research attributed the price increase to the Treasury's actions, stating it was "reigniting fears of fiscal dominance."

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