Bitcoin breaks record again as it tops $120,000 for the first time
Investors bought the token as they bet on long-sought policy wins for the industry this week.
The U.S. House of Representatives is due to debate a series of bills later Monday.
It aims to provide the digital asset industry with a regulatory framework it has long demanded.
One leading analyst said bitcoin is riding a number of tailwinds.
One of those is U.S. President Donald Trump's crypto friendly approach.
He's called himself the 'crypto president' and urged policymakers to revamp rules in favor of the industry.
The analyst said institutional demand and expectations of further gains have also made investors bullish.
Bitcoin is up about 30% for the year so far.
Its rise has led to a broader rally across other cryptocurrencies over the past few sessions, even in the face of Trump's chaotic tariffs.
Ether hit a five-month high of close to $3,060, while XRP and Solana gained about 3% each.
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