WNYUZ
No Result
View All Result
  • Home
  • Politics
  • Opinion
  • Business
  • World
  • Health
  • Entertainment
  • Tech
  • Home
  • Politics
  • Opinion
  • Business
  • World
  • Health
  • Entertainment
  • Tech
No Result
View All Result
WNYUZ
No Result
View All Result
Home News

Bitcoin climbs to record $123,000 as US to debate crypto rules

July 14, 2025
in News
Bitcoin climbs to record $123,000 as US to debate crypto rules
491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

By Rae Wee

SINGAPORE (Reuters) -Bitcoin surpassed $120,000 for the first time on Monday, marking a milestone for the world’s largest cryptocurrency as investors bet on long-sought policy wins for the industry this week.

Bitcoin scaled a record high of $123,153.22 before pulling back slightly to trade 2.4% higher around $122,000.

Later in the day, the U.S. House of Representatives will debate a series of bills to provide the digital asset industry with the nation’s regulatory framework it has long demanded.

Those demands have resonated with U.S. President Donald Trump, who has called himself the “crypto president” and urged policymakers to revamp rules in favour of the industry.

“It’s riding a number of tailwinds at the moment,” said IG market analyst Tony Sycamore, citing strong institutional demand, expectations of further gains and support from Trump as reasons for the bullishness.

“It’s been a very, very, strong move over the past six or seven days and it’s hard to see where it stops now. It looks like it can easily have a look at the $125,000 level,” he said.

The surge in bitcoin, which is up 30% so far this year, has sparked a broader rally across other cryptocurrencies over the past few sessions even in the face of Trump’s chaotic tariff policies.

Ether, the second-largest token, scaled a more than five-month peak of $3,059.60, while XRP and Solana gained about 3% each.

The sector’s total market value has swelled to about $3.81 trillion, according to data from CoinMarketCap.

“What we find interesting and are watching closely are the signs that bitcoin is now being seen as a long-term reserve asset, not just by retail investors and institutions but even some central banks,” said Gracie Lin, crypto exchange OKX’s Singapore CEO.

“We’re also seeing increasing participation from Asia-based investors, including family offices and wealth managers. These are strong signs of bitcoin’s role in the global financial system and the structural shift in how it is perceived, suggesting that this isn’t just another hype-driven rally,” Lin said.

Earlier this month, Washington declared the week of July 14 as “crypto week,” during which members of Congress are set to vote on the Genius Act, the Clarity Act, and the Anti-CBDC Surveillance State Act.

The most significant bill is the Genius Act, which would create federal rules for stablecoins.

Elsewhere, prices of crypto stocks and exchange traded funds advanced.

In U.S. premarket trading, shares of crypto exchange Coinbase surged 1.7%, while bitcoin holder Strategy climbed 3.3%. Crypto miner Mara Holdings jumped 4.6%.

The post Bitcoin climbs to record $123,000 as US to debate crypto rules appeared first on Reuters.

Tags: crypto exchangePresident Donald TrumpReutersU.S. House of RepresentativesYahooYahoo Finance
Share196Tweet123Share
OPEC+ set for another oil hike as Saudi and Russia debate size, sources say
News

OPEC+ set for another oil hike as Saudi and Russia debate size, sources say

October 3, 2025

By Ahmad Ghaddar and Olesya Astakhova LONDON/MOSCOW (Reuters) -Eight OPEC+ countries are likely to further raise oil output on Sunday ...

Read more
News

Ford CEO says his Gen Z son worked as a mechanic and wondered if the 4-year degree was still worth it

October 3, 2025
News

UnitedHealth to exit Medicare Advantage plans in 109 US counties

October 3, 2025
News

Microsoft names CEO to run commercial business, Nadella to focus on tech

October 3, 2025
News

BOJ’s Ueda warns of global uncertainty, keep markets guessing on next hike

October 3, 2025
Lyft CEO says Bill Gates told him leaving Microsoft for Amazon when it was still a startup was ‘the stupidest decision I’ve ever heard anyone made’

Lyft CEO says Bill Gates told him leaving Microsoft for Amazon when it was still a startup was ‘the stupidest decision I’ve ever heard anyone made’

October 2, 2025
Gold slips from record peak after Fed Logan’s comments

Gold slips from record peak after Fed Logan’s comments

October 2, 2025
White House Floats New Rules For Colleges to Get Funding Edge

White House Floats New Rules For Colleges to Get Funding Edge

October 2, 2025

© 2025 WNyuz.com

No Result
View All Result
  • Home
  • Politics
  • Opinion
  • Business
  • World
  • Health
  • Entertainment
  • Tech

© 2025 WNyuz.com