Bitcoin Hits All-Time High, Boosting Crypto Stocks Ahead of Major Legislative Week in Washington

U.S. cryptocurrency-linked stocks surged on Friday as Bitcoin soared to a new all-time high, just ahead of what’s being dubbed “Crypto Week” in Washington — a series of significant congressional debates that could shape the future of digital asset regulation in the U.S.

Starting July 14, the U.S. House of Representatives will review three major cryptocurrency bills: the GENIUS Act, the Clarity Act, and the Anti-CBDC Surveillance State Act. These proposals aim to provide the long-awaited regulatory clarity that crypto businesses and investors have been demanding for years.

This shift in attitude marks a notable turnaround for an industry that previously warned of relocating offshore due to what it described as an unfriendly and punitive U.S. regulatory environment.

“With clear legislative engagement, we expect sidelined capital to begin flowing back into crypto markets,” said Jag Kooner, head of derivatives at Bitfinex. “Even if the bills aren’t immediately enacted, the momentum alone is a positive signal.”

Bitcoin rose 3.3% to reach a record $117,307.66, boosting its year-to-date gain to nearly 26% and recording a 41% increase over the past three months. The rally also lifted shares of major crypto-related companies: MicroStrategy (MSTR) climbed 2.2%, while mining firms like Riot Platforms (RIOT), Hut 8 (HUT), and Mara Holdings (MARA) each rose between 1.8% and 2.5%.

“This high-profile legislative week is drawing investor attention, with many trying to position themselves ahead of the headlines,” said AJ Bell analyst Dan Coatsworth.

Caution Amid the Optimism

Despite the excitement, some experts are urging investors to remain cautious, citing potential volatility and overexuberance. As Bitcoin increasingly finds a role in traditional portfolios — even earning comparisons to gold as a safe-haven asset — some analysts argue the enthusiasm may be premature.

Dirk Willer, Citi’s global head of macro and asset allocation, commented: “Although supportive regulatory signals are helping Bitcoin’s rise, calling it ‘digital gold’ at this stage may be an overstatement.”

Simon Peters, a crypto analyst at eToro, echoed this caution: “There’s plenty of optimism, but sharp price corrections remain a risk. Investors need to consider their long-term strategies.”

Political Pushback

Not everyone is on board with the new legislative direction. Critics, including Democratic Senator Elizabeth Warren, argue that the proposed bills may cater too heavily to crypto industry interests.

“I’m deeply concerned that some of my Republican colleagues are pushing forward what amounts to a wish list for the crypto lobby,” Warren said earlier this week. She has also called for restrictions preventing public officials — including the President — from holding or issuing cryptocurrency to avoid conflicts of interest.

President Donald Trump has faced scrutiny over his ties to the industry, especially given his family’s involvement in launching a stablecoin venture last year.