The price of Bitcoin briefly surpassed $120,000.
According to global cryptocurrency market tracking site CoinMarketCap on the 18th, the price of Bitcoin was recorded at $119,398 as of 8:55 a.m. this day. This represents a 0.6% increase compared to 24 hours prior. The price of Bitcoin surpassed $120,000 again around 6 a.m. but then fell.
Bitcoin had reached an all-time high of $123,200 on the 13th, ahead of the 'Crypto Week' designated by the U.S. House of Representatives, but it fell due to heavy profit-taking.
Subsequently, the U.S. House passed all three cryptocurrency bills, leading to a continued rise in the prices of major cryptocurrencies. In particular, Ripple surged over 14% to reach $3.537, surpassing the previous all-time high of $3.40 set in January. Ripple Labs, which leads Ripple's development, released its first stablecoin, RLUSD, in December of last year, and expectations are building that the passage of these bills will benefit them.
The U.S. House held a plenary session on the 17th (local time) and passed the GENIUS Act, which contains regulations on stablecoins, with a vote of 308 to 122. The CLARITY Act, which specifies regulatory jurisdiction, and the Anti-CBDC Act, which prevents the issuance of Central Bank Digital Currencies (CBDC), were also passed with votes of 294 to 134 and 219 to 210, respectively. The GENIUS Act, which has passed the Senate, now awaits President Donald Trump's signature. Given that President Trump has continually emphasized the need for the GENIUS Act, it is expected to be enacted within the year. The CLARITY Act and the Anti-CBDC Act will now proceed to the Senate.