Bitcoin tops $120,000 on investor bets on Fed rate cuts, Trump support for crypto
Bitcoin (BTC-USD) surged on Monday to trade near record highs as investor enthusiasm and momentum around crypto grew amid Trump’s recent Fed nomination and executive order allowing crypto investment in 401(k) retirement plans.
The digital token reached $122,000 on Monday before easing to around $120,000. The gains come as inflows into exchange-traded funds (ETFs) have grown and public companies have been adding bitcoin to their balance sheets.
Bitcoin wasn’t the only cryptocurrency getting a bid. Ethereum (ETH-USD) touched 2021 levels on Monday, as the second-largest cryptocurrency by market cap has surged roughly 190% since the April market lows.
Companies have been adding ethereum to their balance sheets as a way to gain…
