Bitcoin briefly topped $79,000 on Friday, triggering a surge in publicly traded crypto-related equities. Canaan jumped more than 25 percent, while Strive and Metaplanet each gained more than 16 percent. MARA Holdings had already posted a nearly 16 percent gain the previous day.
The rally came as the US Treasury announced it would double certain long-dated bond buybacks to support liquidity in the Treasury market, a move that helped bolster risk appetite across crypto assets more broadly. Bitcoin climbed 23 percent for the week, while Ether gained 30 percent and briefly topped $2,400.
Bitcoin ETFs drew $517 million in inflows on Friday, marking the largest one-day inflow since early May.
Treasury Strategy and Corporate Holdings
Strive holds more than 20,000 Bitcoin on its balance sheet. Metaplanet, the Japan-listed digital asset treasury company, recently expanded its Bitcoin treasury strategy by acquiring Nasdaq-listed Super League Enterprise.
Political Push for Regulatory Clarity
US President Donald Trump renewed calls for Congress to advance the CLARITY Act, which remains stalled after lawmakers failed to move it forward before the August recess. The proposed legislation is viewed as potentially establishing a clearer regulatory framework for digital assets, including defining oversight roles of the CFTC and SEC.
Trump also revived the prospect of the US government acquiring Bitcoin at a “sizable” scale following meetings with crypto industry leaders, though he did not specify the scale he considers sizable or name the specific leaders involved in those discussions.
