Bitcoin Climbs to $122K, Approaching Record High Amid U.S. Regulatory Boost
Bitcoin surged 3.4% to $122,084 as Trump's order permits crypto in retirement funds.
Bitcoin ETFs saw strong inflows after Trump’s order; Rumble considers $1.17B offer for Northern Data.
Tether may lead Rumble post 1.17B deal; Ether up 2.3%, to $4314.89, XRP rises 0.7%.
Bitcoin Extends Gains Following U.S. Executive Order on Retirement Investments
Bitcoin continued its upward trajectory on Monday, building on a strong rally from the previous week after U.S. President Donald Trump signed an executive order permitting retirement funds, including 401(k) plans, to invest in cryptocurrencies. This landmark decision has been welcomed by the crypto market, as it opens new avenues for institutional participation.
By 01:00 ET (05:00 GMT), Bitcoin rose 3.4% to $122,084.10, approaching its mid−July peak of over $123,000.
The directive encourages regulators to allow alternative asset classes such as cryptocurrencies and private equity into traditional savings and retirement accounts. This move comes amid growing institutional interest in digital assets.
Institutional Demand and Regulatory Momentum Support Crypto Market
Following Trump's announcement, top Bitcoin exchange-traded funds (ETFs) in the United States recorded three consecutive days of significant capital inflows, coinciding with a bull run in Bitcoin prices.
However, much of the recent price appreciation occurred during the low-volume weekend trading session, prompting concerns about the durability of these levels. The executive order is part of a series of crypto-friendly policies from the current administration, including legislation designed to create a regulatory framework for stablecoins.
Meanwhile, U.S.-listed streaming company Rumble Inc. (NASDAQ: RUM) revealed it is assessing a $1.17 billion offer for German AI company Northern Data AG (F:NB2).
Broader Crypto Market Strengthened by Positive Developments
Tether, the leading stablecoin issuer and largest shareholder in Northern Data, stands to become the principal shareholder in Rumble should the acquisition proceed.
Rumble’s offer includes 2.319 shares per Northern Data share, valuing each at $18.30 and totaling approximately $1.17 billion. Apart from equity stakes, Tether is expected to enter a multi-year agreement to purchase processors from Rumble, although the offer remains preliminary.
On Monday, major cryptocurrencies advanced alongside Bitcoin.
Ethereum climbed 2.3% to $4,314.89
XRP increased 0.7% to $3.2782
Solana rose 2.2%
TRUMP declined 1.5%
The broader market maintained momentum following strong gains in the latter part of last week.
* The content presented above, whether from a third party or not, is considered as general advice only. This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.
