Why bitcoin has touched all time high of $110k following a key crypto bill in US | Business News
Bitcoin has reached a new all-time high as it breached the $110,000 cap for the first time, following the advancement of a key crypto bill in the United States Senate, which has received bipartisan support, and is expected to aid those running crypto businesses. The bill, called the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, has advanced in the US Senate, after some Democrat members who had initially opposed it, joined their Republican colleagues in supporting the bill, which regulated primarily stablecoin. Bitcoin has fallen last month briefly over geopolitical uncertainties following Trump’s tariff-induced assault on many countries, triggering fears of a global economic turmoil. However, with some of those concerns reducing, after events like the US signing a trade deal with China, the digital currency has been gaining momentum. The GENIUS Act played a further role in its upward surge. Story continues below this ad While the bill has received support from some Democrat members because of which it moves forward in the US Senate, there are growing concerns that US …
