Bitcoin has surged to a new all-time high, surpassing $120,000, driven by investor optimism and significant legislative developments in the United States. This milestone coincides with a pivotal week in U.S. crypto legislation, as lawmakers prepare to debate key bills aimed at integrating digital assets into the mainstream financial system.
The Republican-controlled House of Representatives is set to consider several pro-cryptocurrency bills, including the GENIUS Act, the Digital Asset Market Clarity Act, and the Anti-CBDC Surveillance State Act. These measures seek to provide regulatory clarity, support companies' stablecoin issuance, delineate agency responsibilities, and restrict the Federal Reserve from launching a digital currency.
President Donald Trump, now in his second term, has expressed strong support for the crypto industry, pledging to make the U.S. the global center for digital assets. He and his family are heavily invested in various crypto ventures, signaling a significant shift in the administration's stance toward digital currencies.
The crypto sector, which felt targeted by the previous administration, has become a significant player in Washington, ramping up lobbying efforts. The industry's political donations have surged, with over $119 million spent on supportive candidates in recent elections.
Analysts predict that the combination of favorable legislation and increased institutional investment will sustain the current bullish momentum in the crypto market. The integration of digital assets into the financial system is expected to attract more capital and foster innovation, further legitimizing cryptocurrencies in traditional financial markets.
## Bitcoin Hits Record High Amid U.S. Crypto Legislation:
– [Bitcoin hits $120,000 milestone as US Congress readies for 'crypto week']
– [Bitcoin soars to new all-time high as US lawmakers focus on pro-crypto legislation]
– [Crypto bills set to advance this week take industry closer to mainstream]
