Bitcoin (BTC) has soared to a new all-time high of $111,526, driven by a confluence of favorable regulatory developments and increased institutional investment.
This surge follows the Texas House of Representatives' recent passage of SB 21, a bill establishing a statewide strategic Bitcoin reserve. If signed into law by Governor Greg Abbott, Texas will hold Bitcoin in cold storage for at least five years, positioning the cryptocurrency as a state asset to bolster economic resilience.
On the federal level, the proposed Guiding and Establishing National Innovation for U.S. Stablecoins Act (Genius Act) is advancing through Congress. Aimed at providing a comprehensive framework for stablecoin issuers, the bill seeks to reduce regulatory uncertainty and encourage mainstream adoption of dollar-backed digital assets.
These regulatory advancements have bolstered investor confidence, leading to increased institutional participation in the crypto market. Analysts predict that Bitcoin could reach $160,000 by late 2025 and potentially $1 million by 2030, citing its decoupling from traditional risk assets and growing demand.
As Bitcoin continues its upward trajectory, the broader cryptocurrency market is experiencing renewed optimism, with Ethereum (ETH) trading at $2,626.57, BNB at $685.22, XRP at $2.42, and Cardano (ADA) at $0.790222.
