Shares of Bitcoin miners and digital asset treasury firms rose sharply late last week, driven by a US Treasury plan to double long-dated bond buybacks and renewed political support for crypto-friendly policies. The move, coupled with heightened risk appetite, lifted Bitcoin and Ether prices to multi-week highs.
Canaan, a major Bitcoin miner, saw its shares jump over 25%, while MARA Holdings and Strive both recorded gains of more than 16%. Coinbase and Robinhood also posted double-digit percentage increases. The surge followed the Treasury’s announcement to boost liquidity through expanded bond purchases, which analysts say could ease broader financial market pressures.
US President Donald Trump reiterated calls for the CLARITY Act, a proposed legislative framework to clarify regulatory roles for digital assets. He also suggested the government might acquire Bitcoin at a “sizable” scale, though the idea remains speculative. The act, however, has stalled after lawmakers failed to advance it before the August recess.
Bitcoin prices rose over 23% for the week, briefly surpassing $79,000, while Ether climbed nearly 30%, crossing $2,400. Strive, which holds more than 20,000 Bitcoin, and Japan-listed Metaplanet, which acquired Nasdaq-traded Super League Enterprise to expand its treasury strategy, also saw significant share price increases.
The CLARITY Act’s potential impact on the Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC) remains unclear. While the legislation aims to define oversight responsibilities, its stalled progress and the speculative nature of government involvement in Bitcoin markets highlight ongoing uncertainties in the sector.
Written by Steven Cook
Regulation Desk
