Bitcoin (BTC +4.61%) is up again today, gaining 6.5% in the last 24 hours as of 2:41 p.m. ET on Aug. 20, 2026, after President Trump hosted a crypto summit, and traders reacted to the White House's bond market moves.
The S&P 500 and Nasdaq Composite were down 0.7% and 1%, respectively, on Thursday
CRYPTO: BTC
Key Data Points
A Treasury buyback plan held 30-year yields down for less than a day
After U.S. 30-year Treasuries reached near 20-year highs, Treasury Secretary Scott Bessent said on Wednesday that his department would move to steady the market by more than doubling the repurchasing of government debt.
The move seemed to work -- at first. Yields eased yesterday but shot right back up so far today. Investors seem to think the intervention won't really move the needle long term.
The instability is driving investors toward alternative investments, including Bitcoin.
Trump pushed Congress to pass the Clarity Act at a White House crypto summit
Bitcoin is also up on general optimism in the industry. Crypto executives met with President Donald Trump at the White House to discuss crypto regulation, joined by Securities and Exchange Commission (SEC) Chair Paul Atkins and Commodity Futures Trading Commission (CFTC) Chair Mike Selig.
Image source: Getty Images.
Trump told reporters that Congress should "take the next step" and pass the Clarity Act, a market-structure bill for digital assets.
Bitcoin still earns a place in a diversified portfolio
While I have my doubts, I still think Bitcoin is worth owning as a part of a well-diversified portfolio.
