Crypto business: Treasury's "non-quantitative easing" strategy drives Bitcoin higher

Bitcoin and the broader digital asset market tasted "non-quantitative easing" this week and loved it. The U.S. Treasury's decision to double the size of certain long-term bond repurchases pushed bitcoin prices up more than 23% to nearly $79,000, and the price of ether also exceeded $2,400. This adds fuel to an increasingly important issue in digital asset markets: If Washington continues to find new ways to support liquidity without formally embarking on quantitative easing, will Bitcoin and other risky assets become one of the biggest beneficiaries?

This issue is already shaping business decisions across the cryptocurrency space. Standard Chartered Bank believes Bitcoin will move towards $100,000, Metaplanet brings its Bitcoin treasury strategy to the United States, and Cypherpunk Technologies spends $33 million on Zcash mining.

Standard Chartered Bank Analysts: Bitcoin is expected to hit US$100,000 as U.S. Treasury buybacks expand

Standard Chartered Bank analyst Geoff Kendrick said that as the U.S. Treasury doubles the size of long-term bond repurchases, Bitcoin may reach $100,000 by the end of the year, which he believes is "exactly the kind of operation Bitcoin loves." Kendrick pointed out in a client note that Bitcoin's key technical level is $65,500, and a breakthrough at this level could confirm that a cyclical low has been formed. He cited news on Wednesday that the U.S. Treasury planned to at least double 10-20-year and 20-30-year coupon repurchase operations. Long-term yields fell, and Bitcoin prices rose more than 6% to nearly $69,000, setting a new high since early June, according to CoinMarketCap data. The expansion plan runs from September 9 to November 4. Kendrick believes that Bitcoin often benefits from government liquidity intervention, while its fixed supply is resistant to currency devaluation. This forecast still depends on whether Bitcoin can hold above $65,500, otherwise cyclical lows cannot be confirmed.

Metaplanet extends Bitcoin treasury strategy to the U.S. with deal with Super League

Metaplane plans to acquire a controlling stake in Nasdaq-listed Super League Enterprise and expand its Bitcoin treasury strategy to the United States. The Tokyo company will inject 2100 bitcoins and $2.5 million in cash into Super League, which will be renamed Superplanet. These bitcoins are worth approximately US$145 million, less than 5% of Metaplanet's total holdings of 43,000, and come from existing treasuries rather than new acquisitions. CEO Simon Gerovich said the structure provides two financing channels: Superplanet for the U.S. market and Metaplanet for the Japanese market. After the announcement, Super League shares surged more than 50%. The transaction is expected to complete in the fourth quarter and is subject to shareholder approval and customary conditions.

Cypherpunk launches Zcash mining machine fleet, controlling network 18% computing power

Cypherpunk Technologies acquired a fleet of mining machines from Winklevoss Capital in an equity deal worth US$33.33 million, thereby entering the Zcash (ZEC) mining space, giving the listed company approximately 18% of its network computing power. The mine has been launched at U.S. facilities and produces approximately 4.2 GSol/s, accounting for approximately 18% of Zcash's current computing power. Cypherpunk also holds 323,394 ZECs, accounting for approximately 1.9% of the circulating supply, and aims to achieve a 5% ownership. The company believes that the economic benefits of Zcash mining are better than Bitcoin mining or AI data center businesses. However, these economic benefits largely depend on ZEC's price, network computing power, mining difficulty and operating costs. Prior to this layout, ZEC prices had soared more than 1300% in the past 12 months, but then there was a correction. The network implemented an Ironwood upgrade on July 28 to replace the Orchard pool after a vulnerability that could have led to counterfeiting of ZECs was previously discovered, but it was never detected to be exploited.

CFTC solicits opinions on AI computing futures, CME plans to launch it in October

The U.S. Commodity Futures Trading Commission (CFTC) is soliciting opinions on futures contracts related to AI computing power, a move that could lay the foundation for trading and hedging computing costs in emerging markets. Bloomberg reported on Monday that the regulator has sent a request for comments to the White House Office of Management and Budget. CME Group announced last week that it plans to launch two computing futures contracts on October 5, pending regulatory approval, with Silicon Data providing benchmarks. TD Lombard, Goldman Sachs and Bridgewater estimates that AI infrastructure spending will account for approximately 2% to 2.5% of U.S. GDP this year. The review could complicate the timeline for planned computing products by CME Group and ICE, which still require regulatory approval. According to Bloomberg, after the White House review is completed, the CFTC is expected to open a consultation period, which typically lasts 30 or 60 days.