from RT:
The cryptocurrency has topped $120,000, fueled by strong demand from institutional investors and growing support for crypto in the US
Bitcoin has surged past $120,000, setting a new record and bringing its year-to-date gains to nearly 30%. According to CoinDesk data, the cryptocurrency was trading at around $122,700 as of 08:00 GMT on Monday.
Analysts have attributed the rally to strong institutional demand and a shift in American policy, driven by US President Donald Trump, who has dubbed himself the “crypto president” and pushed for friendlier rules for the industry following his campaign promise to establish his country as the “crypto capital of the world.”
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Under Trump’s SEC pick, Paul Atkins, the agency has dropped multiple crypto lawsuits and approved the first Bitcoin ETFs, opening up the asset to broader investment. Bitcoin ETFs surpassed $50 billion in net inflows on July 10, Farside Investors data showed.
In March, Trump also signed an executive order to establish a US Strategic Bitcoin Reserve, aligning with his pledge to make the US the “crypto capital of the world.” Arizona and New Hampshire have since passed laws creating state-level Bitcoin reserves.
