U.S. Treasury Considers Using $1.5 Trillion TGA Account for Long-Term Treasury Buybacks, Potential Boon for Bitcoin

Treasury to Utilize Account

On the 24th, CNBC reported, citing two senior Treasury officials, that the U.S. Treasury is considering using its General Account (TGA), which has been increased to about $950 billion, as a source of funds for long-term treasury buybacks. This month, the Treasury announced that it would more than double the scale of its long-term treasury buybacks, and utilizing the TGA is being considered as a new option to secure the necessary funds.

The TGA serves as the daily cash management account for the U.S. government, held within the Federal Reserve System, and includes tax revenues among other sources...