Trump Signs Executive Order Allowing Retirement Accounts to Include Virtual Currency

As Asia begins a new day of trading on Friday (July 18), the trading price of Bitcoin has surpassed $120,500, rising 1.7% in the past 24 hours, while Ethereum continues to rise by 3%, looking to test $3,500. According to a report by the Financial Times on Thursday, U.S. President Donald Trump is preparing to sign an executive order allowing retirement accounts to invest in alternative assets, including cryptocurrencies. This order could be signed as early as this week and will allow 401(k) accounts to invest in a broader range of assets beyond traditional stocks and bonds, such as digital assets, gold, and private equity, while instructing regulators to clear related obstacles. Following this news, Bitcoin surpassed $120,000, rising 1.7% in the past 24 hours. Meanwhile, XRP set a new all-time high, breaking the record from 2018. Ethereum (ETH) rose 3.12% to $3,477.70, finding strong support at $3,315 amid volatile trading. Driven by the GENIUS Act, funds are flowing from BTC to ETH, while assets like XRP are also seeing increases. Earlier this week, the House of Representatives passed the GENIUS Act, causing the world's largest cryptocurrency to break $123,000, mainly driven by market expectations for supportive crypto policies from Washington. Despite the rising popularity of digital assets, analysts believe that as long-term investors like pension funds incorporate Bitcoin into their portfolios, there is still significant growth potential for institutional investment demand. On Thursday, the U.S. House of Representatives voted to pass a regulatory framework for dollar-pegged stablecoins. President Trump is expected to sign the bill on Friday. Additionally, the House also passed two other important cryptocurrency-related bills, and all three bills have now been submitted to the Senate for consideration.