Bitcoin Soars Past $120K as Trump Mulls Crypto-Friendly Retirement Reform
Bitcoin rallied above $120,000 on Thursday following reports that U.S. President Donald Trump is preparing to sign an executive order enabling 401(k) retirement accounts to include alternative assets like cryptocurrencies.
According to the Financial Times, the executive order could be signed as soon as this week. The directive would urge financial regulators to clear existing barriers, allowing retirement portfolios to diversify beyond stocks and bonds into digital assets, private equity, and gold.
The move sent shockwaves through the crypto market. Bitcoin rose 1.7% in 24 hours, while XRP surged to a new all-time high, finally eclipsing its 2018 peak.
If finalized, the executive action could reshape how Americans invest for retirement and mark one of the most significant policy shifts in favor of digital assets to date.
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