Bitcoin surged 6% on August 21, 2026, extending a rally triggered by the U.S. Treasury’s announcement to double its long-end debt buybacks and President Trump’s push for crypto legislation at a White House summit with industry executives.
On August 19, Trump met with leaders from Coinbase, Ripple, and other major crypto firms, along with heads of the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). After the meeting, Trump told reporters that Congress should “take the next step” in passing the Clarity Act, the industry’s priority bill, which has stalled in the Senate.
The immediate catalyst was the Treasury Department’s August 19 announcement that it would at least double its…
