Bankless · Friday, August 28, 2026
Treasury Secretary Besant's actions to manage long-term bond yields, termed the 'Treasury twist,' have ignited discussions about the return of the debasement trade. While the market interprets these actions as an attempt to control yields, some analysts, like Hasib Qureshi, argue the amounts are symbolic and the underlying issue remains the U.S. debt and deficit.
“Bernstein Analyst. Debasement trade to take Bitcoin to 300K in three years, Bernstein says.”
“So Besant called a Monday press conference, and that's where we got the news on the week. In the Monday press conference, Besant said that the $4 billion per week was kind of a minimum. He called this his brand for it. It wasn't the Besant put. It was the Treasury twist That's what he's trying to meme into existence.”
“The reality is that the debt is too high and the deficit shows no signs of going down. That's the underlying problem. And Besant can't control that.”