Scott Bessent's Bond Buyback Plan Puts Currency Debasement 'Back in Focus' — Crypto and Gold Gain Momentu

Capital markets commentator The Kobeissi Letter highlighted on Monday a surge in investor interest in currency debasement narratives, alongside a rotation into gold and Bitcoin (CRYPTO: BTC).

Spike in Debasement Mentions in Media

The Kobeissi Letter cited Bloomberg data indicating that the word "debasement" appeared in over 1,500 articles last week, marking the highest weekly count since January.

The mentions more than doubled from the previous week and surged 750% over two weeks.

Google search data pointed in the same direction, with interest in “debasement” surging sharply in the second half of August.

The Macro Trigger Behind

The renewed focus stemmed from Treasury actions under Secretary Scott Bessent to expand buybacks of long-dated bonds, the Kobeissi Letter stated.

Traders immediately read the move as inflationary and bullish for hard assets, sending yields lower and the dollar index lower.

At the same time, it fueled rotation into Bitcoin and gold.

Crypto, Gold Funds Record Increased Inflows

Moreover, cryptocurrency-based funds recorded $3.2 billion in inflows last week, the largest since October 2025, with BlackRock’s iShares Bitcoin Trust ETF (NASDAQ: IBIT) capturing most of the recent demand.