Bitcoin Records 25% Gain in August, Marking Third-Best Performance for the Month

Bitcoin rose approximately 25% in August, achieving its third-best August performance on record, trailing only 2017 and 2013. Bitwise European research head André Dragosch noted that the asset defied typical seasonal weakness. The rally was supported by U.S. Treasury decisions to expand government debt buybacks, which lowered yields and reduced the cost of holding non-yielding assets like Bitcoin. Additionally, political support for crypto legislation and over $2.8 billion in inflows into Bitcoin ETFs during August contributed to the momentum. Bitcoin recen