New Delhi, Aug. 22 -- Bitcoin price surge, crypto stocks rally: Following US Secretary Scott Bessant's announcement to double the size of its long-dated bond buybacks, Bitcoin prices skyrocketed last week, registering the biggest weekly rally in three years. The original cryptocurrency surged up to 23% last week and came close to the psychological $80,000 level, last seen in May 2026. Currently, the Bitcoin price is oscillating around $75,000, showing a weekly gain of over 21%.

Highlighting the reason for the Bitcoin price surge, Rachael Lucas, an analyst at BTC Markets, told Bloomberg, "The real driver was the US Treasury doubling long-dated bond buybacks, which pulled long yields lower and lifted risk appetite broadly. Nothing has rewr...