Trump's latest move: legalize cryptocurrencies. Bitcoin hits a record high (and will continue to rise).

The United States Congress is on the verge of passing a landmark law that will give the much-maligned cryptocurrency world some much-needed legitimacy , buoyed by President Donald Trump's recent support for the sector. The House of Representatives will vote on three bills this week, including one on the use of stablecoins—cryptocurrencies pegged to safe-haven assets like the dollar—which, if passed, would immediately go to Trump for his signature. The series of bills comes after years of suspicion toward the cryptocurrency industry, amid the Biden administration's belief that the sector, born from the success of Bitcoin, should be kept under tight control and away from traditional investors . But after cryptocurrency investors poured millions of dollars into his presidential campaign last year, Trump has toned down his doubts about the sector, even launching a Trump meme coin and other initiatives in preparation for his return to the White House.

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According to federal financial disclosure forms released last month, Trump pocketed more than $57 million from the cryptocurrency venture World Liberty Financial , which he launched with his sons last year. Bitcoin hit a new all-time high yesterday, surpassing $122,000 in trading , buoyed by market optimism ahead of a highly anticipated "Crypto Week" in Washington. The U.S. House will begin consideration of three major bills today that could change the regulatory framework for digital assets . President Donald Trump has made no secret since the start of his second term in the White House of his desire to transform the United States into the "crypto capital of the world."

The tycoon himself launched his own meme coin in January, which hovered around $10 after initially peaking just below $50. Today, Bitcoin, the world's largest cryptocurrency, traded up 2.67% to $122,390, before falling back to just below $120,000. This new peak follows a series of all-time highs reached last week , fueled by strong inflows into ETFs and greater regulatory clarity. Cryptocurrencies are also being chosen as an investment option at a time of heightened trade tensions , with the announcement of 30% US tariffs on the EU and Mexico. And according to analysts, Bitcoin's value will continue to rise (at least until October).

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