Bitcoin Price Surges on China and U.S. Stimulus Efforts, Boosting BTC Value

CryptoBlockNews 25 September 2024, 02:09 published

Contents

1 Bitcoin and Gold Rise as U.S. M2 Money Supply Surges
- 1.1 Bitcoin Surges Amid Increased U.S. Money Supply
  - 1.1.1 Bitcoin’s Value Soars Following U.S. M2 Money Supply Increase
- 1.2 Gold Reaches New Record High After U.S. Money Supply Growth
  - 1.2.1 Gold Price Hits $2,690 Per Ounce Following M2 Money Supply Increase

Bitcoin and Gold Rise as U.S. M2 Money Supply Surges

Bitcoin Surges Amid Increased U.S. Money Supply

Bitcoin’s Value Soars Following U.S. M2 Money Supply Increase

Recent data revealed a significant rise in the U.S. M2 money supply during August, leading to a notable surge in bitcoin prices. The combination of looser monetary policies in China and the U.S., as well as the escalating money supply, acted as key drivers behind the steady climb of bitcoin throughout afternoon trading.

Gold Reaches New Record High After U.S. Money Supply Growth

Gold Price Hits $2,690 Per Ounce Following M2 Money Supply Increase

In response to the positive news, gold prices also experienced a boost, increasing by 1.4% and reaching a new all-time high of $2,690 per ounce. The rise in the U.S. money supply further supported the upward trajectory of gold prices, signaling a favorable market trend for the precious metal.