The price of bitcoin climbed above $125,000 on Monday, marking its latest all-time high.
The digital token has recovered in recent days after falling below $110,000 in late September. It had a rocky month overall, after slipping from its previous record in mid-August.
Bitcoin has repeatedly set new records over the past year, after the election of President Trump resulted in a more favorable regulatory environment for crypto in Washington.
The Securities and Exchange Commission (SEC) — a key source of frustration for the industry in the Biden administration — has since pulled back on numerous investigations and lawsuits.
Meanwhile, GOP leaders in Congress have pushed for long-sought crypto legislation, getting a stablecoin bill to Trump’s desk in July.
More complicated market structure legislation has yet to clear both chambers. The House passed its version, the Digital Asset Market Clarity Act, in July, but the Senate has opted to draft its own bill.
