Bitcoin is storming again. First, it fell, and is now growing rapidly as US President Donald Trump prepares to sign an executive order that will allow use of cryptocurrencies in pension plans. Although, experts are confident that the crypto market will be corrected in the near future.
Trump will sign the document today. And the price of bitcoin has already risen by about 1%, returning to $116 thousand for the first time since July 31. Ethereum (ETH) is up almost 5% Cryptocurrency-related stocks have also responded with a rise.
The widespread inclusion of bitcoin in American retirement accounts has long been seen as the holy grail for cryptocurrency adoption. Conceptually, this would make cryptocurrencies the backbone of the US financial infrastructure, expanding access to them and encouraging long-term investors.
The U.S. pension market is currently estimated at $43 trillion, almost $9 trillion of which is held in plans (savings directly from employees’ salaries). The capitalization of the cryptocurrency market today is almost $4 trillion.
Trump promised to make the United States the “cryptocurrency capital of the world.” In July, he signed the GENIUS Act, the law on stablecoins.
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