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Bitcoin achieves $120k milestone on Trump policy support
Bitcoin has surged past the $120,000 (£89,000) level for the first time, with its new record value being attributed to progress in cryptocurrency regulation under Donald Trump.
It was trading at $121,207 early on Monday morning - having doubled in value over the past year on the back of support for digital assets from the president during his second term. Bitcoin's token rivals have also seen a boost on the back of Mr Trump's support for the sector.
While new products on Wall Street have made it easier to invest, a lack of global regulation has held back ownership and continued to leave the industry at the mercy of high volatility. The US House of Representatives is to debate a series of bills this week to provide an American regulatory framework for a market worth almost $3.8trn, according to figures from CoinMarketCap.
Members are set to vote on the Genius Act, which would create federal rules for stablecoins, and two other pieces of legislation. Mr Trump, who has called himself the "crypto president.
Amir Nisi
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