Bitcoin surged to a new high on Friday, lifted by investor optimism ahead of the U.S. House of Representatives’ “Crypto Week”, a series of debates on long-awaited digital asset regulations set to begin Monday.
Lawmakers will consider the Genius Act (focused on stablecoins), the Clarity Act, and the Anti-CBDC Surveillance State Act. These bills aim to provide clearer legal frameworks for the crypto industry, a move supported by U.S. President Donald Trump, who has called himself the “crypto president.”
Trump’s sons, Eric and Donald Jr., are also involved in World Liberty Financial, a crypto platform tied to the family.
Even without passage, “the optics of legislative engagement are bullish,” said Jag Kooner of Bitfinex. Bitcoin rose 3.3% to $117,333.32, up 26% year-to-date and 41% over the past three months.
Dan Coatsworth of AJ Bell noted that investors are positioning ahead of the “extra publicity this event could attract.”
Crypto-related stocks rallied: MicroStrategy rose 1.9%, while miners like Riot, Hut 8, and Mara Holdings gained between 0.7% and 1.6%. Ether jumped 5.13%, XRP 9.7%, and Solana 0.8%. Total crypto market value now exceeds $3.67 trillion, according to CoinMarketCap.
