Bitcoin has surged past the $100,000 mark once again, reaching $106,000 per coin over the weekend—just shy of its all-time high of nearly $110,000. This spike comes amid mounting excitement around a historic piece of U.S. legislation that could formally integrate cryptocurrency into the broader financial system.
The U.S. Senate is set to debate the Genius Act (Guiding and Establishing National Innovation for U.S. Stablecoins) this coming week. The bill, sponsored by Republican Senator Bill Hagerty of Tennessee, is expected to establish the first comprehensive regulatory framework for payment stable coins in the United States.
“The Senate will make history,” Hagerty said, calling the legislation a pro-growth measure that supports digital innovation. The bill was recently revised to address concerns from Democrats over consumer protection and national security, with bipartisan optimism growing around its passage. 
Bo Hines, executive director of the president’s council of advisors for digital assets, confirmed that discussions are progressing rapidly. “We are well on our way to achieving the president’s goal,” he stated during the Consensus crypto conference, indicating the White House’s support for swift regulatory action. Learn more news visit our website.
Meanwhile, Wall Street sentiment is shifting. JPMorgan analysts now predict bitcoin will outperform gold through the second half of 2025. They cite crypto-specific catalysts—including regulatory clarity and tech sector adoption—as driving forces behind bitcoin’s recent momentum.
“Between mid-February and mid-April, gold rose while bitcoin declined, but that trend has now reversed,” JPMorgan noted, suggesting a zero-sum dynamic between the two assets.
Despite past skepticism, traditional finance firms like JPMorgan and BlackRock are increasingly acknowledging crypto’s role as a legitimate asset class. Bitcoin’s market cap has rebounded above $2 trillion, placing it closer than ever to gold’s $20 trillion dominance.
Investor Bill Miller IV believes bitcoin could eventually hit $1 million per coin, citing its superiority over fiat currency and its growing reputation as a store of value.
With the Genius Act likely to move forward and market optimism high, bitcoin’s resurgence may just be the beginning of a larger shift in global financial systems.
