Techub, citing Business Insider, reported that U.S. Treasury Secretary Bessent announced a bond buyback plan on Aug. 19. The market view described in the report is that the plan did not solve problems tied to U.S. debt and deficits. That response, according to the report, weakened the dollar and lifted both gold and Bitcoin.
Since the announcement, Bitcoin has gained more than 20%, while gold has risen 14% since the start of August. Business Insider also said gold and Bitcoin exchange-traded funds took in about $7 billion over the past five trading days, the highest level on record for the same period.
The report framed both assets as scarce exposures outside the dollar system. It said the flows into gold and Bitcoin reflect current market concern over fiscal risk.
Techub News, citing Business Insider, reported that U.S. Treasury Secretary Bessent announced a bond buyback plan on Aug. 19.
The market view cited in the report is that the plan did not address problems related to government debt and deficits. Business Insider said the move weakened the dollar and boosted gold and Bitcoin. Bitcoin has risen more than 20% since the announcement, while gold is up 14% since the start of August.
The outlet also said gold and Bitcoin ETFs absorbed about $7 billion in combined inflows over the past five trading days, setting a record high for the same period.
According to the report, both gold and Bitcoin offer exposure to scarce assets outside the dollar system, reflecting current market concern over fiscal risk.
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