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Bitcoin Surges to $86,455, an 8-Month High, After America's SEC Announces Tokenized Stock Experiment (yahoo.com) 88

Posted by EditorDavid from the magic-internet-money dept.
August 15: $62,991
September 23: $86,456
Bitcoin shot up 37% over the last 39 days, reaching an eight-month high on Monday. "Bitcoin is back," declares Yahoo Finance: The token held near $86,000 on Tuesday after a stunning multisession rally... [Fundstrat head of digital assets Sean Farrell told Yahoo Finance on Monday] "I think the crypto winter is over, although that does not necessarily mean the path higher will be linear." For now, momentum is on crypto's side, with bitcoin jumping more than 5% on Friday and another 6% on Monday. "We believe crypto is in the early innings of a new bull market and we see few signs of overheating," Compass Point analyst Ed Engel wrote on Tuesday.

The move looks "like a combination of renewed ETF demand and a large short squeeze," Nicolai Søndergaard, senior research analyst at Nansen, said as traders betting against bitcoin are forced to buy it back, adding further fuel to the rally.
Bitcoin got bad news and then good news last week. After the U.S. Congress failed Thursday to pass a cryptocurrency 'Clarity Act', America's Securities and Exchange Commission instead announced a tokenized-stock experiment. It's a five-year "innovation exemption" that "creates a path for tokenized U.S. stocks to trade through automated market makers on public blockchain," according to CoinDesk. Yahoo Finance notes that Bitcoin and other altcoins surged after the announcement.

Bitcoin Surges to $86,455, an 8-Month High, After America's SEC Announces Tokenized Stock Experiment More | Reply

Bitcoin Surges to $86,455, an 8-Month High, After America's SEC Announces Tokenized Stock Experiment

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  • shakes head (Score:5, Interesting)

    by evanh ( 627108 ) on Wednesday September 23, 2026 @07:46AM (#66348200)

    Some people clearly still have too much money.

  • Bitcoin - victim of its own success (Score:4, Insightful)

    by cmseagle ( 1195671 ) on Wednesday September 23, 2026 @07:54AM (#66348214)

    IMO, a major headwind facing the price of Bitcoin is that its advocates have already gotten so much of what they could have possibly hoped for. So many of the milestones that boosters viewed as the "next big thing" that would cause Bitcoin to really take off are past us: you can buy a Bitcoin ETF, big banks have entered the market, governments take it seriously, etc.

    If you're buying into the Bitcoin market now, there's less to look forward to as a potential "gamechanger" that'll make the price jump, while the same challenging question of whether they hold any real underlying value remain. Sure, there are more hypotheticals to look forward to (maybe the US does eventually go ahead with that "strategic Bitcoin reserve"), but the gap between present reality and potential future upside continues to shrink.

    • This is simple physics. The bigger the mass the more the attraction, and this can also increase the stability unless something unnatural happens (like every government deciding on the same day to introduce some heavy taxation). It takes longer for the price to change when it grows, as the involved masses will operate less in sync due to distances, timezones, etc.

    • Re:Bitcoin - victim of its own success (Score:5, Insightful)

      by Sloppy ( 14984 ) on Wednesday September 23, 2026 @11:58AM (#66348600) Homepage Journal

      its advocates have already gotten so much of what they could have possibly hoped for

      Except the one thing that actually matters: being able to really use it. I still (in 2026!) can't use Bitcoin to pay for things at my local grocery store, car mechanic, or even Amazon.

      Bitcoin didn't take off. Unless it suddenly gets more popular by a few orders of magnitude, it remains a useless dead end.

    • governments take it seriously

      The only thing governments are taking seriously about it is closing tax loopholes. The only governments which really back bitcoin are those who are insanely fiscally irresponsible such as Brazil, El Salvador, and the country which has the most external debt on the planet, the USA.

      So you support bitcoin do you? Let me guess, you're paying off your credit card debt with another credit card?

      • So you support bitcoin do you? Let me guess, you're paying off your credit card debt with another credit card?

        Ha. Absolutely not. I have the same thoughts on Bitcoin as I did when I first became aware of it: "This just doesn't seem all that useful, other than for the hope that one day I can sell it for more than I bought it."

        When Bitcoin first entered my consciousness it was worth $10/coin, so I clearly undervalued the potential of that "hope the price might go up". I wish I'd bought Bitcoin in the same way that I wish I'd picked yesterday's winning lottery numbers.

  • Bitcoin is obsolete and should not be used (Score:4, Insightful)

    by xack ( 5304745 ) on Wednesday September 23, 2026 @08:14AM (#66348234)
    There are plenty of useful alternative payment systems now making its use as currency redundant and Bitcoin was obsolete from day one because anyone can irreversibly steal your money if your private key gets leaked (of which it is very easy with AI-found security flaws in operating systems, see Coldcard and MTGox). You can't even get "rich" with Bitcoin anymore as all the "cheap" coins have been cashed out it lost in a landfill.

    The only reason Bitcoin still exists is because people don't take real economics classes anymore and think they can generate "value" by "hodling". Same goes for all those stupid Pokemon cards where low wage retail workers get harassed by scalpers. Slashdot should have a topic ban on Bitcoin so we don't keep having the same "number go up" posts.

    • Re:Bitcoin is obsolete and should not be used (Score:5, Insightful)

      by martin-boundary ( 547041 ) on Wednesday September 23, 2026 @08:18AM (#66348238)
      Bitcoin is also a great way for Trump to benefit.... and for Iran to do commerce outside the dollar system.
    • I wouldn't say it was obsolete from day one, but pointless from day one. There weren't any problems that it solved, nothing new it added (other than itself), and its stated purpose was ridiculous and doomed.
      • Well, scratch that, it did add something. The blockchain it's built on is a useful tracking mechanism. And that seems to be what the stock market wants to use it for - making and tracking stock transactions.

        Why that would boost the value of bitcoin does not make much sense to me.

        • Re: (Score:1)

          by Anonymous Coward

          and yet 15 years on what are the prominent blockchain based tools being used in professional industry?

        • Re: (Score:3)

          by ceoyoyo ( 59147 )

          It didn't. Hash trees are nearly 50 years old. Bitcoin's novelty was proposing a 1) a practical proof of work system based on computing hashes 2) a distributed transaction system based on it where the users would perform the processing.

          The proof of work system has proven to be enormously expensive and Bitcoin processing was quickly taken over by large organizations so it failed to achieve (2) as well.

          The SEC thing the story is about has nothing to do with Bitcoin. It uses "smart contracts" which is an Ether

          • I accept the correction. I don't care enough about that scene to bother with the differences between them and just lump them all together in my mind.

            I don't understand why this would boost Bitcoin, for the reason you mentioned - it has nothing to do with this. The SEC is talking about stock trades using similar tech. That shouldn't impact Bitcoin prices at all.

            Which tells you something about that market. People investing in it don't seem to have any better understanding of it than I care to keep.

          • A bitcoin hash has nothing to do with a hashtree.
            And a ledger and/or blockchain: neither.

            Blockchain means: every bitcoin (or fraction there of) can be looked at, and traced back over all previous owners back to the original creator/owner.

        • Hash trees and digital signing and encryption have been around long before blockchain and used to sign and track transactions on the stock market for decades. blockchain doesn't really add anything much to that.

      • The idea of a distributed ledger that can be done worldwide without any government involvement has value by itself.

        The idea that you can buy, hold, and sell bitcoin somewhat anonymously* has value by itself.

        * obviously trades involving the same wallet are tied together, and there are off-chain methods of tying a wallet to a real person, but with good "opsec" using bitcoin can be about as anonymous as using paper/coin currency or lumps of shiny metal or uncut jewels

        • Well, I like how quickly you acknowledge that your second point is not only redundant, but worse than the pre-existing alternatives.

          Your first point is actually wrong. Not only is it not intrinsically valuable, it's inherently bad. In the long run, only criminals benefit from it. Governments MUST be responsible for the nation's wealth. They MUST at least have visibility into the net flow of capital in and out of the country. This is necessary because governments are responsible for fiscal, monetary,

        • The idea of a distributed ledger that can be done worldwide without any government involvement has value by itself.

          Indeed. It allows people to get around all those pesky anti-money laundering legislations and international sanctions. Otherwise it provides nothing of value to anyone who has ever needed to transfer money, something that is flung around in the billions across national borders daily without issue and without bitcoin.

          The idea that you can buy, hold, and sell bitcoin somewhat anonymously* has value by itself.

          If you want to buy, hold and sell something, then you're far better off doing it using traditional stocks issued in paper format. If anonymity is your goal, announcing your trades and holdings o

    • You cited Mtgox... wasn't that like... a decade ago? lmao

  • Hear me out. When we get this kind of reporting on Bitcoin it leads to the the capitalist tragedy of the commons.

    For the energy costs of bitcoin, it would be great to get updates on how much it is shifting us over the 1.5C target for global warming. Actual numbers. Something concrete we can tell our children... like where they are going to need to move in 20 years.

    Now of course it is possible to fudge this kind of information. For example, if all bitcoin mining is moved to solar, it takes away solar for

    • Bitcoin is not having a notable impact on the environment. The overall consumption is barely enough to make a dent even if it were all mined using coal. Unless you think countries like Uruguay are the problem with climate change, then you shouldn't be pointing a finger at Bitcoin.

    • BTC mining moved to renewables a long time ago.

      Tell me though, how much CO2 do all the diesel burning cash trucks (armored cars etc) produce?
    • Wait... did you think that "the tragedy of the commons" was a problem of Capitalism? It's a human nature problem that was already a well-known issue in Aristotle's time. You could even say it was a civilization problem, as it isn't faced by nomadic hunter-gatherers. As soon as a people settle down and create shared spaces, the problem arises.

      • Re:The Environment (Score:4, Interesting)

        by ceoyoyo ( 59147 ) on Wednesday September 23, 2026 @11:53AM (#66348594)

        it isn't faced by nomadic hunter-gatherers

        Hunter-gatherers are generally nomadic because of the tragedy of the commons. They show up, hunt and gather out the area they're in with no motivation to manage it sustainably, then move elsewhere to do the same thing again. Nomads don't "face" tragedy of the commons, they pack up and leave. It becomes a problem that needs to be solved for civilizations because they give up that option.

        • Well, they are nomadic for the same reason the animals they follow are. Do antelope face the tragedy of the commons? No, they're animals. They graze and move. Their predators, like us, follow. The land renews after the antelope and hunters have moved on, bolstered by manure, and the cycle continues.

          It is only when humans settle and establish shared resources that the tragedy begins and must be addressed.

          So, I think we're largely disagreeing about definitions. I say nomads can't have commons; tho

  • Good new for bitcoin? (Score:3)

    by Tx ( 96709 ) on Wednesday September 23, 2026 @08:33AM (#66348254) Journal

    I'm surprised the tokenized stocks thing is seen as good news for Bitcoin - that stuff will not be happening on the Bitcoin chain, so I'd have thought it would be more like good news for Bitcoin's competitors, smart contract platforms like Ethereum and Solana? Maybe it's being seen as good news for crypto as a whole, I guess.

    • Bitcoin booms and crashes on vibes and market manipulation. https://en.wikipedia.org/wiki/... [wikipedia.org]

      The big crypto bubble will pop eventually... and if it's allowed to get be commingled into other financial institutions it's going to hurt all of us.

    • Re: (Score:2)

      by Junta ( 36770 )

      Have to keep in mind that to a lot of folks it's almost 'bitcoin === cryptocurrency', where anything cryptocurrency must be bitcoin related. Not just this field, but investing in general.

      Companies have gotten big boosts just by having a similar symbol to something in the news that they had nothing to do with.

  • President Donald Trump reported over $1.4 billion in income from cryptocurrency in just the FIRST YEAR of his second term.

    So when congress doesn't bow down to the orange menace..... he just tells his appointed toadies to fuck up our economy even more with speculation. All to make him more cash.

    This country is so fucked.
    • Almost all of that money came from overseas players to buy influence with him. It's a legal avenue for purchasing influence with the US president. A suitcase of cash is "bribery". But, a middle eastern leader can "invest" 500 million USD in TrumpCoin, which was designed to instantly crater in value, directly putting the cash into the pockets of Trump, his family, and his friend. Completely legal.

      It amazes me that US society has decided to tolerate this sort of behavior. We chose this consciously and wit

      • Re:This just in - Trump Grifts some more (Score:4, Interesting)

        by drinkypoo ( 153816 ) <drink@hyperlogos.org> on Wednesday September 23, 2026 @12:13PM (#66348624) Homepage Journal

        Most people didn't choose that part of this consciously, because they didn't understand it, and if they did, they didn't believe it.

        What I don't get is how those people can think they're smart when the counterevidence is so persistent.

  • For me, the biggest news is the possibility of a tokenized stock exchange. I have no interest at all in cryptocurrency, but I would like more transparency and control over my assets which could potentially be done if they were tokenized. If it was designed securely, it could prevent shadow transactions and would expose frontrunning. Also, I have a lot less trust in stock exchanges in the past couple of decades due to all of their fuckery, so I wouldn't mind holding onto the assets directly after they're
  • * The Illusion of Control: Just like a hustler shuffling cards faster than the eye can track, complex tokenomics, decentralized buzzwords, and shifting regulatory frameworks can make it nearly impossible for everyday participants to track where the actual value (or risk) resides.

    * The Ever-Expanding Deck: Instead of three simple cards, the market constantly introduces new layers: yield farming, meme coins, alternative layer-1s, and now tokenized equities. Multiplying the ways a player can get distracted

  • use it to vote? (Score:3, Interesting)

    by SinisterEVIL ( 2661381 ) on Wednesday September 23, 2026 @03:11PM (#66348850)
    How come no one ever talks about using it as a voting system instead of just "money". Every candidate gets a wallet. every citizen cast a vote by sending a fraction of a token to the candidate. Its anonymous but can also be openly audited by literally anyone. Oh also, It's unhackable......
    • I would refrain from calling it "unhackable". How do you prevent stolen credentials? And how would you prevent double-voting? You can ignore second votes, but they can still flood the blockchain and make it difficult to audit. Wouldn't it be vulnerable to DDOS attacks?

    • How come no one ever talks about using it as a voting system instead of just "money". Every candidate gets a wallet. every citizen cast a vote by sending a fraction of a token to the candidate. Its anonymous but can also be openly audited by literally anyone.

      Because it's not a problem that needs solving? Election fraud is so insignificant it's never impacted an election in the USA. Why throw out a system that works for something that has some very serious flaws:

      Oh also, It's unhackable......

      It's anything but. Anyone with majority control on the chain can modify the ledger. Unless you're going to get the weight and might of the entire world to secure your ledger it wouldn't take much for a major international power to spin up a mighty mining system and start tampering with it.

  • Bitcoin sails close to that fine line between investment and gambling.

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