Bitcoin Hits Record High as Trump Ushers in New Crypto Era
Bitcoin has reached an all-time high of $124,000, surpassing its July record and marking a historic moment for global finance. The surge comes as US President Donald Trump signed an executive order allowing cryptocurrencies to be included in American pension funds – an industry worth $9 trillion.
Trump, calling himself the “crypto president,” has positioned digital assets at the center of his financial agenda. Under the new rules, ordinary American workers will be able to allocate part of their retirement savings into cryptocurrencies. Unlike earlier speculative bubbles, analysts note that today’s rally is being driven by institutional investors rather than retail traders.
Trump himself has profited: his company raised $2 billion to purchase cryptocurrencies. Globally, 165 companies now hold bitcoin on their balance sheets. According to Galaxy Digital’s Will Owens, corporate adoption is fueling a feedback loop – rising prices attract more firms, which in turn push prices even higher.
(bizblog)
