The shares of Strategy (MSTR), a company that specializes in the purchase and sale of securities, are rising to begin the week. Bitcoin cryptocurrency. BTC’s price has risen to $120,000, as the demand from institutions increases and it is getting more attention at the federal level. This week, the US House of Representatives is set to review several important pieces of crypto legislation. Bitcoin’s price has increased and BTC related stocks have also risen as a result of this attention.
Coinbase (COIN), Robinhood(HOOD) and Circle (CRCL), a newly-public stablecoin issuing company, have all seen a rise in their stock prices. Coinbase and Robinhood stocks are currently trading at new highs. Strategy is the largest institutional BTC investor and has seen a 10% increase in BTC since BTC’s ATH was breached last week.
Strategy announced that it had made a purchase in the amount of $472 million of Bitcoins (BTC). Today, the company announced that it had acquired 4,225 BTC from July 7 to July 13, at an average of $111 827 per coin. The latest acquisition brings Strategy’s total BTC holdings up to 601,550 BTC. This was acquired for a combined price of 42,87 billion dollars and an average purchase cost of $71,268.
Also Read: Bitcoin Tops Amazon to Become 5th Largest Asset
This week the House of Representatives is going to review the GENIUS Act, a proposal for the first national framework on stablecoins. House members will also review the CLARITY Bill, a legislative package that assigns oversight of all digital assets (except stablecoins) to either Securities and Exchange Commissions (SECs) or Commodities Futures Trading Commissions (CFTCs), depending on which asset is being monitored. Clarity Act should be more contentious than GENIUS Act. This week, the Anti-CBDC Surveillance State Act will be the third of three bills scheduled for floor votes. This bill prevents the Federal Reserve to create a “central bank digital currency” (CBDC), and prevent the Fed Board of Governors using CBDCs to implement monetary policy.
Bitcoin will continue to be green in 2025. BTC’s future is positive, according to The Finder, so it is recommended that you take an initial position when BTC reaches its highest level of $120.980. Forecasts indicate that the cryptocurrency king could experience some dips but will continue to climb. BTC could be a catalyst for other altcoins such as Ripple’s XRP and Cardano’s ADA. VeChain’s VET may also rise in the charts if BTC surges.
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Source: watcher.guru
