Bitcoin skyrocketed past $117,500 today, bouncing back from a local low of $114,278 just yesterday, as indicated by data from Bitcoin Magazine Pro. This sudden recovery follows President Donald Trump officially signed a historic executive action permitting cryptocurrencies like Bitcoin to be incorporated into 401(k) retirement plans.
The directive instructs the Department of Labor to reassess its existing guidance concerning fiduciary duties in ERISA-regulated plans and clarify the suitable procedure for offering diversified funds that encompass alternative investments.
Furthermore, the directive mandates collaboration among the Department of Labor, the Treasury Department, the Securities and Exchange Commission (SEC), and other federal authorities to evaluate whether broader regulatory changes are necessary to bolster this policy transition. The SEC has also been specifically instructed to amend its own regulations to facilitate this accessibility, indicating a significant step toward modernizing retirement investment choices for millions of Americans.
“President Trump aims to provide American workers with enhanced investment options to achieve more robust and secure retirement results,” the White House fact sheet mentioned. “Alternative assets, including private equity, real estate, and digital assets, deliver competitive returns and diversification advantages.”
Galaxy Digital CEO Mike Novogratz emphasized the significance of this move, stating that a “massive pool of capital” will gain exposure to Bitcoin and cryptocurrency due to Trump’s executive order. “A substantial influx of funds” will be forthcoming, he remarked.
“President Trump has committed to establishing the United States as the ‘crypto capital of the world,’ highlighting the necessity of adopting digital assets for fostering economic expansion and technological leadership,” the fact sheet concluded.
Bitwise’s Head of Research Ryan Rasmussen demonstrated the potential value this executive order could inject into Bitcoin, noting, “If crypto captures X% of the $8 trillion 401(k) market:
1% … $80 billion
2% … $160 billion
3% … $240 billion
4% … $320 billion
5% … $400 billion
6% … $480 billion
7% … $560 billion
8% … $640 billion
9% … $720 billion
10% … $800 billion”.
This policy transformation is poised to serve as one of the most substantial drivers for Bitcoin acceptance, adding momentum to an already intense surge of institutional interest that has been developing for years. According to asset manager Bitwise, while Bitcoin miners produced 217,771 BTC in 2023, institutions acquired an astonishing 913,006 BTC. The pace has quickened in 2025, with miners generating 97,082 BTC so far this year, while institutions have purchased 545,579 BTC.
Institutional uptake continues to reach new heights. In 2023, only 43 publicly traded companies possessed Bitcoin on their balance sheets. This figure increased to 64 in 2024 and has now surpassed 160 in 2025, according to Blockware.
Two firms spearheading the new corporate Bitcoin treasury race are David Bailey’s Nakamoto and Jack Mallers’ Twenty One Capital. Nakamoto’s anticipated merger with KindlyMD—scheduled for approval by Monday, August 11—would allow it to acquire hundreds of millions in Bitcoin after raising $763 million to obtain BTC for its reserves. Twenty One Capital, on the other hand, currently holds 43,514 BTC, making it the third-largest corporate Bitcoin holder worldwide.
Disclosure: Nakamoto is collaborating with Bitcoin Magazine’s parent company BTC Inc to create the first global network of Bitcoin treasury firms, where BTC Inc provides certain marketing services to Nakamoto. More information on this can be found here.