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US Senate set to debate crypto bill as bitcoin nears all-time high

Bitcoin is reaching an all-time high
Bitcoin is reaching an all-time high (AFP/Getty)
  • Bitcoin's price is nearing its all-time high, currently around $103,000, driven by renewed inflation fears in the US and potential tariffs on key imports.
  • The US Senate is expected to debate a cryptocurrency draft bill this week to establish a regulatory framework for stablecoins like Tether and USD Coin.
  • Senator Elizabeth Warren and other Democrats are opposing the bill, citing concerns about consumer protection, national security, and potential financial gains for the Trump family.
  • JPMorgan analysts have shifted from gold to Bitcoin, predicting Bitcoin's price could outperform gold for the remainder of the year, while MicroStrategy acquired an additional 13,390 BTC for approximately $1.3 billion.
  • Walmart announced product price increases following the rollout of President Trump's tariffs, reinforcing Bitcoin's appeal as an inflation hedge amid unchanged interest rates.
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