Cryptocurrencies are experiencing an unprecedented summer. Bitcoin has broken the $124,000 barrier, setting a new record, and cryptocurrency-related stocks have soared, as Wall Street moves quickly to shift its stance on a sector that was considered marginal just a few years ago, according to CNN.
This radical shift has been directly supported by the White House. President Donald Trump recently signed an executive order allowing digital assets to be included in 401(k) retirement plans, boosting the confidence of large and small investors.
Congress also passed the GENIUS Act in July, establishing a new framework for stablecoins and opening the door for major banks like JPMorgan to enter the market.
The numbers are telling: Robinhood stock has risen 200% since the beginning of the year, while Bitmain Emergen Technologies stock has surged 625%.
BlackRock's Bitcoin exchange-traded fund, launched in early 2024, has surged 137% in just a few months, outperforming the S&P 500's 37% gain over the same period.
This surge isn't limited to individuals; it has also included major corporations like Google, which entered into a multibillion-dollar partnership with a Bitcoin mining company. Experts believe this is not a temporary wave, but rather the beginning of a broader cycle of institutional adoption of cryptocurrencies.
However, this boom is not without risks. Consumer protection organizations have warned that new regulations could open the door to more speculation without adequate investor protection.
But the Trump administration is betting on making the United States "the world's Bitcoin superpower," as Treasury Secretary Scott Besant put it
