Bitcoin Hits New All-Time High as U.S. Senate Advances Crypto Regulation
The U.S. Senate has made significant strides in cryptocurrency regulation, advancing bipartisan legislation to create a federal framework for stablecoins. Meanwhile, Bitcoin has reached a new all-time high, with experts attributing its surge to institutional inflows and favorable policy developments.
Bitcoin's price peaked at an impressive $109,800 before settling at $109,378 on Coinbase. This remarkable feat comes amidst nearly $1 billion in inflows pouring into Bitcoin ETFs over two trading days this week. Joe DiPasquale, CEO of BitBull Capital, believes steady ETF inflows and a shift in political tone are driving Bitcoin's price surge.
Michae Saylor, Strategy Executive Chairman, recently posted that missing out on buying Bitcoin at its all-time high is akin to leaving money on the table. Institutional inflows and favorable policy developments are fueling confidence in Bitcoin, positioning it as more than a speculative asset. Bitcoin's consistent performance and growing institutional adoption further bolster its status.
The U.S. government's stance on Bitcoin has evolved, with President Donald Trump's administration establishing a 'strategic bitcoin reserve' for the U.S. government. However, recent comments from U.S. Treasury Secretary, Scott Bessent, confirm that the government will not purchase additional Bitcoin for this reserve, instead using confiscated assets to grow it. Despite this, Bitcoin continues to break records and gain mainstream acceptance, with its latest all-time high of $109,800 reflecting its growing appeal to investors.
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