Bitcoin above $70k for first time since early June after Bessent’s intervention in bond markets
Bitcoin passed $70,000 for the first time since early June after Scott Bessent’s intervention in bond markets.
The injection of cash boosted prospects for risky assets as Donald Trump urged Congress to pass laws establishing rules for crypto.
Bitcoin surged 5 per cent to nearly $72,700 after the most popular crypto rose from under $65,000 the previous day.
Crypto-related stocks such as Coinbase and Strategy also rose. But Bitcoin is 17 per cent down this year and below its high of nearly $126,000 last October.
Trump has vowed to make the US the ‘crypto capital of the world’ and has profited from his own crypto ventures.
Crypto climbs: Bitcoin surged 5% to nearly $72,700. It extended a sharp rally seen the day before which has seen the world’s most popular cryptocurrency surge from less than $65,000
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