Bitcoin and Ether prices surged following the US Treasury’s expansion of long-dated bond buybacks, with Standard Chartered analyst Geoff Kendrick forecasting Bitcoin could reach $100,000 by year-end. The move has intensified investor focus on macroeconomic signals influencing cryptocurrency markets.
Bitcoin climbed over 23% to $79,000, while Ether crossed $2,400, driven by renewed appetite for risk assets. The US Treasury’s decision to double its bond buyback programme between September and November has been cited as a catalyst, with Kendrick describing it as “exactly the type of thing Bitcoin loves.”
Metaplanet, a Tokyo-based firm, is expanding its Bitcoin treasury strategy by investing $145 million in Super League Enterprise, a Nasdaq-listed company, though the deal requires shareholder approval. Separately, Cypherpunk Technologies acquired a Zcash mining fleet controlling 18% of the network’s hashrate for $33.33 million, though its economic viability hinges on ZEC price dynamics.
The US Commodity Futures Trading Commission is seeking public comment on AI compute futures, with the CME Group planning to launch related contracts on October 5, pending regulatory approval. Silicon Data, a benchmark provider, is involved in structuring these products, as AI infrastructure spending estimates approach 2.5% of US GDP.
Zcash’s Ironwood upgrade, implemented in July, replaced the Orchard pool after a flaw was identified, though no exploitation was detected. The cryptocurrency’s price had risen 1,300% over 12 months before retreating. Kendrick’s $100,000 target for Bitcoin remains conditional on sustained support above $65,500.
Written by Roger Slater
Technology Desk
