Bitcoin gained 0.25% after U.S. payroll data strengthened expectations that the Federal Reserve would not raise rates at its next meeting. Prices cited in the report were recorded at about 4 p.m. Brasília time.
Bitcoin rose on Monday as markets anticipated that the U.S. Federal Reserve would not raise interest rates at its meeting later this month. Friday’s payroll report contributed to that view. Binance data cited by CNN Brasil showed Bitcoin up 0.25% at $85,581.61 and Ether also up 0.25% at $2,708.85 at about 4 p.m. Brasília time.
Pedro Fontes, a research analyst at Mercado Bitcoin, pointed to money-supply growth as support for the case for scarce assets. He estimated that the combined U.S. and Chinese money supply reached about $76.4 trillion in August, up $7.9 trillion in a year. China accounted for roughly $53.1 trillion and the United States $23.3 trillion. Fontes said both figures were record highs.
Meanwhile, MicroStrategy bought 334 Bitcoin for $28.7 million. The quoted prices refer to the time stated in the report and do not reflect later market movements.