Bitcoin Reaches New Heights Amid Pro-Crypto Congressional Focus
Bitcoin soared to a new all-time high, exceeding USD 123,000 as Congress shifts focus to cryptocurrency legislation. With President Trump backing, the crypto scene in Washington strengthens, amidst debates on regulations for stablecoins and market structures. Bitcoin's institutional demand grows, reinforcing its position as 'digital gold.'
- Country:
- United States
Bitcoin surged to an unprecedented high on Monday, crossing the USD 123,000 mark as the US Congress shifts its attention to cryptocurrency legislation. The move comes as part of a broader 'crypto week' initiative, where lawmakers are focused on establishing regulations for digital currencies.
The cryptocurrency's rapid climb has boosted its market cap to USD 2.4 trillion, placing it among the world's five most valuable asset classes, even surpassing giants like Amazon. President Donald Trump, who has embraced the crypto industry, is aiming to make the United States the global leader in this field.
Despite past skepticism, Trump's administration and family have delved deep into the cryptocurrency realm, participating in mining operations and launching new coins. Institutional interest in Bitcoin is reshaping its market image, with many seeing it as a hedge against economic instability, akin to 'digital gold.'
(With inputs from agencies.)
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