The price of Bitcoin rose to a record high on Wednesday. The recent rebound in Bitcoin and the broader cryptocurrency market is attributed to favorable regulatory news, including the stablecoin bill proposed by the U.S. Senate after a group of Democrats dropped their opposition on Monday. This industry-supported regulatory bill is currently set for debate in the Senate, with a bipartisan group hoping to pass it as early as this week. Michael Novogratz, founder and CEO of Galaxy Digital, stated in an interview on Wednesday: 'This is a shift from the approach of former SEC Chairman Gensler and the SEC to the Trump administration, which has embraced our industry. It has unleashed the 'animal spirits' (the vitality and investment enthusiasm of the market) both domestically and internationally.'