07.08.2025 20:44
Bitcoin's price experienced a dramatic surge, exceeding $117,500, following a recovery from a recent low of $114,278. This significant rebound is directly attributed to a newly signed executive order from President Donald Trump, which paves the way for the inclusion of cryptocurrencies, including Bitcoin, in 401(k) retirement plans.
The executive order mandates a review of existing Department of Labor guidelines concerning fiduciary duties within ERISA-governed retirement plans. Specifically, it calls for clarification on the procedures for incorporating diversified funds containing alternative investments, such as cryptocurrencies. Furthermore, inter-agency collaboration among the Department of Labor, Treasury Department, Securities and Exchange Commission (SEC), and other federal regulatory bodies is mandated to assess the need for broader regulatory adjustments.
The SEC, in particular, has been instructed to adapt its regulations to facilitate this wider access to crypto assets in retirement plans. This initiative marks a substantial step toward modernizing retirement investment options for a large segment of the American population. The White House emphasized the President's objective of providing American workers with diverse investment choices to secure more robust retirement outcomes, highlighting the potential for competitive returns and diversification benefits offered by alternative assets, including digital assets.
Industry experts immediately recognized the far-reaching implications of this executive order. Mike Novogratz, CEO of Galaxy Digital, predicted a substantial influx of capital into the Bitcoin and broader cryptocurrency markets, stating that a "monster pool of capital" will gain exposure, leading to a significant surge in investment.
The White House fact sheet concluded by reiterating President Trump's commitment to establishing the United States as the global leader in the cryptocurrency sector, underscoring the vital role of digital assets in stimulating economic progress and technological innovation. While the initial report mentions Bitwise’s Head of Research, further details regarding their comments were not included in the source material from internet sources.
