Finance & Currencies
Bitcoin jumps 6.9% on US crypto policy hopes
Bitcoin climbed 6.9% on Friday to $77,675.94, extending a three-day rally driven by optimism over US cryptocurrency legislation and a shift toward riskier assets.
The world's biggest cryptocurrency by market value reached its highest level since May and was up more than 20% since Wednesday. Friday was the third consecutive day in which bitcoin rose by more than 5%.
The rally came after US President Donald Trump urged lawmakers on Wednesday to pass the Clarity Act, a bill intended to encourage cryptocurrency use that has stalled in the Senate.
Bitcoin was also supported by the US Treasury's move to double sovereign bond buybacks in an effort to lower long-term borrowing costs. The move came after the 30-year Treasury yield rose to levels last seen in 2007.
Bret Kenwell, US investment analyst at eToro, said renewed optimism about cryptocurrency legislation in Washington helped drive Bitcoin higher. He said falling Treasury yields and short liquidations also added to the rally.
Update
Bitcoin climbed 6.9% to $77,675.94.
Friday was the third consecutive day in which bitcoin rose more than 5%.
Bret Kenwell of eToro said crypto policy optimism, falling Treasury yields and short liquidations helped fuel the rally.
Source note: AFP news report published on 21 August 2026 at 09:28:01 UTC.
Update
Bitcoin climbed 6.6% to $77,472.44.
AFP said the price was Bitcoin's highest level since May.
Bitcoin was up more than 20% since Wednesday.
The move was linked to optimism over US cryptocurrency legislation and the US Treasury's surprise decision to buy back more of its own bonds.
Source note: AFP news report published on 21 August 2026 at 08:52:21 UTC.
Source
AFP news report published on .