Bitcoin Posts Record Weekly Dollar Gain as Strive CEO Sees Strongest Cycle

Bitcoin’s performance against both the dollar and gold is closely watched as a gauge of whether investors are rotating toward scarce assets amid concerns about monetary debasement and abundant liquidity. The latest rally followed the U.S. Treasury Department’s announcement that it would expand its bond-buyback program, reviving risk appetite and institutional interest after a period of investor apathy.

Bitcoin gained a record $14,264, or 22.7%, in the week ended Aug. 23, 2026, closing at $77,387. U.S. spot bitcoin exchange-traded funds drew $1.92 billion of net inflows in the trading week ended Aug. 21, their strongest showing since October 2025. Strive Chairman and CEO Matt Cole said the breakout against both the dollar and gold supports his view that the next bitcoin cycle will be the strongest on record, though he acknowledged a near-term pullback remains possible.