Bitcoin Loses $80,000 as Critics Swarm Treasury's $950 Billion Buyback Plan
Bitcoin (BTC) touched $80,000 on Monday, then handed the level straight back. Critics are lining up against the US Treasury plan that sparked the move. The token traded near $78,835 at press time. The bond market had already run this exact play last week, and it did not hold. Bitcoin Price Performance. Source: BeInCrypto Sponsored Sponsored What Pushed Bitcoin to $80,000 The Treasury General Account (TGA) is the governments checking account at the Federal Reserve. Tax receipts fill it. Treasury Secretary Scott Bessent has let it swell, with reports pegging the account near $950 billion. U.S. Treasury Considers Using $950B TGA to Support Larger Long-Term Bond Buybacks According to CNBC, citing two senior Treasury officials, the U.S. Treasury is considering using funds from its roughly $950 billion Treasury General Account to help finance larger buybacks of… Treasurys own daily cash statement showed $935.1 billion on August 20, the latest official reading. Two senior Treasury officials told CNBC that money could fund bond buybacks. Treasury doubled those buybacks on August 19. Long-end operations rose from $2 billion to at least $4 billion each. The first lands on September 9, per the departments own announcement. Traders liked the plumbing. Spending TGA cash does not grow the Fed‘s balance sheet. It just moves money









