Sign up now for <\/strong>CryptoCodex<\/strong><\/a>\u2014A free crypto newsletter that will get you ahead of the market<\/strong><\/p>\n The bitcoin price has come within touching distance of $80,000 for the first time since late May, pushed on by one legendary billioniare investor naming bitcoin among his trade picks<\/a>.<\/p>\n Now, as BlackRock reveals a surprise bitcoin flip<\/a>, Treasury secretary Scott Bessent could be about to deliver a fresh, $1 trillion boost to the bitcoin price.<\/p>\n Sign up now for the free <\/strong>CryptoCodex<\/strong><\/a>\u2014A daily five-minute newsletter for traders, investors and the crypto-curious that will get you up to date and keep you ahead of the bitcoin price and crypto market swings<\/strong><\/p>\n ForbesElon Musk\u2019s $40 Trillion Nightmare Is Suddenly Coming True As The Bitcoin Price SoarsBy Billy Bambrough<\/a> U.S. Treasury secretary Scott Bessent could be about to unleash a $1 trillion worth of firepower on the bond market, potentially sending the bitcoin price sharply higher.<\/p>\n Getty Images<\/p>\n The Treasury could use its near $1 trillion General Account to help fund bond purchases, according to a CNBC report<\/a>, citing anonymous sources.<\/p>\n \u201cThe Treasury\u2019s intention to bring Treasury yields under control has revived the \u2018debasement trade\u2019. Eroding confidence in bonds and currencies driven by the policies of their issuing authorities is leading to capital flight from debt and currency markets to other markets,\u201d Alex Kuptsikevich, FxPro\u2019s chief market analyst, said in emailed comments. <\/p>\n \u201cAssets associated with decentralised finance, namely gold and bitcoin, are proving particularly popular.\u201d<\/p>\n 08\/25 update: The bitcoin price has topped $80,000 per bitcoin for the first time since May, surging as U.S. Treasury secretary Scott Bessent makes a fresh attempt to bring soaring bond yields under control.<\/p>\n Bessent \u201cwill do whatever it takes to \u2018put the fear of God\u2019 into the bond vigilantes, shorting the long end of the curve in an attempt to drive the 10 year yield to 5%,\u201d Fox Business correspondent Charles Gasparino posted<\/a> to X, citing anonymous Wall Street executives.<\/p>\n Meanwhile, Bessent\u2019s attempt to calm the bond markets and lower the cost of borrowing for the U.S. has been sharply criticized by his former mentor.<\/p>\n The billionaire investor Stanley Druckenmiller, who worked with Bessent at George Soros\u2019s fund management company in the 1990s and was an architect of the fund\u2019s $1 billion bet against the British pound, has warned against trying to suppress U.S. bond yields.<\/p>\n Writing<\/a> in the Wall Street Journal, Druckenmiller argued that the U.S. should \u201clet the bond market speak,” adding that \u201cgovernments defending prices against fundamentals always lose. The only variable is how much they spend before conceding.\u201d<\/p>\n Druckenmiller, who earlier this year predicted that the U.S. dollar won\u2019t be the world\u2019s reserve currency in 50 years due to the country\u2019s spiraling, $40 trillion debt pile, possibly replaced by bitcoin or crypto<\/a>, said the $1.8 trillion deficit needs to be addressed as it\u2019s \u201cthe only thing that durably lowers \u200blong-term” bond yields.<\/p>\n \u201cReform entitlements gradually and honestly, through means testing, indexing changes, eligibility adjustments phased in over decades\u2014so that the burden is shared across generations instead of dumped on the youngest,\u201d Druckenmiller, the chairman and chief executive of Duquesne Family Office LLC, wrote.<\/p>\n Bitcoin and crypto traders have, however, cheered Bessent\u2019s intervention in the market, taking it as a sign the Trump administration will pull out all the stops to bend the market to its will.<\/p>\n \u201cWhether Bessent pumps fast or slow, bitcoin will continue its rally,” crypto trader Arthur Hayes wrote in a blog post<\/a>. <\/p>\n “Volatility will increase, so just because the chart appears unidirectional upwards doesn\u2019t mean there won\u2019t be savage mini-corrections. Therefore, unless you are a full-time trader, don\u2019t use leverage. Buy bitcoin or your favorite sh*tcoin, and sit tight, and let Bessent cook.\u201d<\/p>\n Last week, Bessent gave the bitcoin price a shot in the arm when he said he\u2019s \u201cgoing to increase the size of the [bond] buyback,\u201d adding that it “could be more than the $4 billion per issue.\u201d<\/p>\n Bitcoin rallied more than 20%, buoyed by growing fears that the Trump administration could trigger a debt crisis as soon as next year<\/a> as the $40 trillion debt pile spirals out of control. <\/p>\n \u201cWe have a big toolkit, so we\u2019ll see,\u201d Bessent said last week.<\/p>\n Bitcoin and crypto traders are feeling increasingly upbeat, with 10x Research analysts declaring bitcoin\u2019s bull market “officially” here.<\/p>\n \u201cWe have consistently pointed out that bitcoin would most likely confirm its cycle low in either August or September, with August looking increasingly likely,\u201d 10x Research analysts led by Markus Thielen wrote in an emailed note, adding that the latest bitcoin price rally has awakened the \u201canimal spirits\u201d of the market.<\/p>\n Sign up now for <\/strong>CryptoCodex<\/strong><\/a>\u2014A free crypto newsletter that will get you ahead of the market<\/strong><\/p>\n![\"Scott](\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2026\/08\/1787661861_128_0x0.jpg\")
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