- Bitcoin hit $117,602 with 5% daily gains, and Charles Hoskinson predicts it could reach $250,000 within 12-24 months.
- Two major crypto bills will face House votes during Crypto Week, starting July 14, and could bring regulatory clarity to the industry.
- Industry leaders say the legislation may unlock institutional capital and trigger significant crypto adoption.
Bitcoin has reached new all-time highs, trading at $117,602 with a 5.52% daily gain. The cryptocurrency’s trading volume surged 70% to exceed $100 billion, signaling strong market interest. Charles Hoskinson, founder of Cardano, has reinforced his prediction that Bitcoin could reach $250,000, citing upcoming regulatory developments as potential catalysts.
The crypto market anticipates significant legislative progress during “Crypto Week” beginning July 14. Two major bills are scheduled for House votes that could reshape the digital asset landscape in the United States.
Legislative Developments Drive Market Optimism
The Cryptocurrency Market Structure (CLARITY) Act aims to establish clear regulatory boundaries between the Securities and Exchange Commission and the Commodity Futures Trading Commission. This legislation seeks to eliminate regulatory ambiguity that has plagued the crypto industry for years.
The GENIUS Stablecoin Act has already secured Senate majority support and awaits House approval. President Donald Trump has committed to signing the bill into law following congressional passage.
Hoskinson believes these regulatory milestones will unlock substantial institutional capital. He previously stated that Bitcoin could rally to $250,000 within 12 to 24 months, driven by institutional stablecoin adoption and growing corporate treasury demand.
The Cardano founder emphasized that Federal Reserve rate cuts would accelerate this growth. Lower interest rates typically create an environment where investors seek higher-yielding assets, potentially benefiting cryptocurrencies.
Market Implications and Industry Response
A $250,000 Bitcoin price would represent a 100% increase from current levels. This valuation would push Bitcoin’s market capitalization to $5 trillion, potentially making it the second-largest global asset after gold.
Such growth would challenge technology giants like Nvidia in terms of market value. The cryptocurrency would establish itself as a major institutional asset class alongside traditional investments.
Industry leaders have actively supported regulatory clarity initiatives. Ripple CEO Brad Garlinghouse and Coinbase CEO Brian Armstrong have advocated for comprehensive crypto legislation. Their efforts reflect broader industry sentiment favoring clear regulatory frameworks.
The upcoming legislative votes represent a critical juncture for crypto adoption. Regulatory certainty could accelerate institutional investment and mainstream acceptance of digital assets.
Bitcoin’s current price discovery phase suggests continued upward momentum. The asset has broken through previous resistance levels and established new trading ranges.
Institutional adoption remains a key driver for Bitcoin’s long-term growth. Clear regulatory guidelines would encourage more corporations to add Bitcoin to their treasury reserves.
Disclaimer
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