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Bitcoin hit a record high on Thursday as growing industry optimism has spurred a fresh enthusiasm for cryptocurrency, with initial restrictions on digital assets spurring fresh enthusiasm for cryptocurrency.
The token price rose to up to $111,816, extending the overnight rally in January to surpass the set $109,000 high.
Washington lawmakers are locked in consent rules that provide a regulatory framework for Stablecoins, a form of digital dollars widely used for payments and transactions in the crypto market. Tokens aim to maintain a stable value for the dollar, but they sit outside the regulated banking system.
Bitcoin prices have risen by more than a third in the past month as President Donald Trump’s aggressive tariff policy eased. This month, the largest inflow since January, flowed into more than $3.6 billion in exchange funds tracking Bitcoin prices, according to data provider Sosovalue.com.
The rise in Bitcoin also fueled the profits of other cryptocurrencies. Ethereum, the second-largest cryptocurrency by conceptual value, rose 4.5% to $2,619, while Solana rose 1.9% to $176, both of which remained at record highs.
Thomas Perfumo, global economist at Crypto Exchange Kraken, said Bitcoin’s Fresh High “is a clear signal that there’s more room for this Crypto Bull Market.”
Perfumo cited the “feedback loop” from its stronger performance in the public equity market, which flowed into ETFs and cited ongoing purchases from corporate buyers such as Strategy, the largest public Bitcoin holder.
“Unless Tailwinds Trifecta is spinning around, Dip-Buyers are likely to set the tone, and today’s record prints are proof of that,” he added.
Recently, Washington lawmakers have moved forward with Congress on what is known as a genius act, which sets the first stable US regulations.
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Investment Bank Standard Chartered estimated that the rules could expand the Stablecoin market from the current $240 billion to $2 billion by the end of 2028.
The majority of the Senate voted in favor of the draft, but influential Democratic politicians such as Sen. Elizabeth Warren warn that it does not adequately protect consumers and poses a potential threat to financial stability. The bill requires approval from both houses before Trump can sign the law.
Bitcoin prices have been supported over recent weeks by companies purchasing cryptocurrency from the Ministry of Corporate Treasury, including Michael Saylor’s Strategy and the 21 Bitcoin Acquisition Vehicle, founded by Canter Equity Partners and backed by SoftBank and Stabla Book Operator Tether.
