Bitcoin Breaks RM500,000 as U.S. Lawmakers Debate Crypto Legislation

Bitcoin hit a record-breaking RM500,000 this week—its eighth peak this year—coinciding with a major political push in Washington to champion crypto-friendly legislation. The centerpiece is President Trump’s ‘GENIUS’ Act, aimed at federal regulation for stablecoins, reinforcing the administration’s goal of making the U.S. the world’s crypto capital. 

Since his re-election, Bitcoin has surged over 70%, boosted further by the approval of spot Bitcoin ETFs and rising institutional appetite. Investors poured $1.2 billion into Bitcoin ETFs in a single day, with $15 billion added over two months. 

However, experts warn the rally may signal broader concerns over U.S. debt and currency pressure. Some forecasts predict Bitcoin may soar to $160,000 by year-end, but volatility and potential rate hikes could limit gains. Despite strong bullish sentiment, Bitcoin dipped 2.4% on Tuesday, with analysts citing profit-taking and resistance near key price levels.

Bitcoin in its bull run with the help of President Trump?

President Donald Trump made a post on Truth Social citing that the United States will be the dominant force when it comes to owning these digital assets. He claims this is going to place the United States “lightyears” ahead of other countries. 

Regardless, it appears the current bull run is on going. Some users speculate the prices may drop in the future as the bear market will come into place. Do note, please be weary when it comes to investing in such investment forms. 

Select apps that are legitimate and try not to go through any “agents” or Whatsapp groups when it comes to investing in order to avoid scams.