#CryptoCornerSeason2 | Bitcoin Hits $80,000 & August Market Rally - Bitcoin +14% this week, +25% this month - Key drivers include US Treasury bond interventions, record institutional inflows, and CLARITY Act anticipation - Growing adoption spans real-wor

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CNBC TV 18 presents Crypto Corner powered by Binance. Welcome to Crypto Corner and let me tell you that the Bitcoin has been surging almost all of August, so much so that we've seen $80,000 as well come back. If you look at the last one week and last one month, it has been good gains continuing for many of those cryptos. Bitcoin gained 14% on weak and 25% on month. Same goes for Etherium as well, which is up 32% now for this month. XRP is gained 35% for the month. Solana has gained 15% on weekend, 30% on month and those gains just about continue. It's been a very strong. Month of August, But where is this August rally coming in from? What? What are the key drivers? Well, to begin with, it is about the US Treasury bond intervention, which has lowered yields and revived global demand for risk on assets. It also has been about record institutional inflow where you have the US Bitcoin ETF hall in nearly $1.92 billion in just about one week. The Clarity Act push has been supportive where the lawmakers are now preparing for a critical Senate vote by the mid of September. Also take a look at what's happening in cryptocurrencies. Well, it has been about tokenization, where South Korean trading Titan Posco is now shifted trade receivables into Avalanche blockchain. You also have Bitwise, which is launching an automated portfolios, converting tokenized talks on coin base into AI and robotics baskets. And then there are various other big names as well, which are now accepting crypto as payments. Within this, you have Shopify, you have Microsoft, which is now accepting. Bitcoin for digital purchases across Xbox and online ecosystem store networks. Steak and shakes also are and Chipotle is fast food brands which are also now giving you food in return for crypto. Newer continues to feature native Bitcoin payment structure during checkout and then you have companies like Gucci, Balenciaga, which are high end fashion houses also allowing you to pay in crypto for all those fashion accessories. OK. All right. Manisha, thanks very much for bringing us such an interesting update. We need to take a short break. But on that note, we will get you a lot more in terms of specific stocks on the other side. Stay tuned. CNBC TV 18 presents Crypto Corner powered by Binance.