Bitcoin rose by more than 4 per cent in early Asia trading, continuing a tear that began on Wednesday after the US Treasury revealed plans to rein in long-term bond yields and US President Donald Trump called for passing crypto legislation.

Bitcoin climbed as high as $75,740, but gave up some gain to trade at $74,806.41 at 8.30am UAE time. The original cryptocurrency has surged almost 8 per cent in the past 24 hours, according to Coinbase data.

The market enthusiasm for Bitcoin has been gaining momentum since US Treasury Secretary Scott Bessent announced the department would double the size of its bond buybacks.

Bitcoin is now up almost 20 per cent this week.

Optimism around cryptocurrency was also bolstered when Mr Trump met with…