Hopes for bitcoin funding in December rest partly on the US Treasury's spending in reducing its cash. The spending adds cash to the banks; The tax payments pull it back. December's smaller debt sales partly reflect tax receipts, so net cash flow is the first test.

Hopes for bitcoin funding in December rest partly on the US Treasury's spending in reducing its cash. The spending adds cash to the banks; The tax payments pull it back. December's smaller debt sales partly reflect tax receipts, so net cash flow is the first test.