Bitcoin delivered returns of 25% in August, marking its third-best August ever, following only 2017 (66%) and 2013 (31%). This rally was triggered by the U.S. Treasury’s decision to more than double its government debt repurchases, which lowered long-term yields and reduced the opportunity cost of holding non-yielding assets like bitcoin. President Donald Trump also urged lawmakers to pass the crypto Clarity Act, boosting sentiment in the digital asset industry. Investors poured over $2.8 billion into bitcoin ETFs in August, the most since October. Bitcoin reached as high as $81,281 before sliding to around $76,883.
Source: Read the original article
