Bitcoin sets another record, surpassing $112,000 and outpacing Alphabet Inc. in market capitalization.
Support from US Lawmakers
One of the key factors behind Bitcoin's rise is heightened interest from US lawmakers. Ripple CEO Brad Garlinghouse recently testified before Congress in support of the CLARITY Act, which aims to establish clear regulations in the crypto industry. All Senators on the panel agreed that crypto is here to stay and needs regulatory clarity.
Impact of Trump's Economic Policies
Amid growing interest, Bitcoin has also benefitted from President Donald Trump’s proposal for a significant 300 basis point rate cut, the largest in US history. Lower interest rates typically encourage investors to move money into high-risk assets like Bitcoin.
Institutional Investors Jump In
On July 9, Bitcoin ETFs recorded fresh net inflows of $215 million, marking five consecutive days of new capital. BlackRock led with $125.6 million, followed by Ark Investment with $57 million and Grayscale with $15.8 million.
Bitcoin's rise to a new record of $112,000 is driven by support from lawmakers, interest rate initiatives, and institutional investor activity.
