Bitcoin jumps as Trump is set to sign an order that allows cryptocurrencies in 401(k)s

Excitement surged through the cryptocurrency market on Thursday as news broke that Bitcoin and other digital assets may soon be included in 401(k) retirement plans. President Donald Trump is preparing to sign an executive order that would allow these accounts to invest in alternative assets, which include private equity, real estate, and cryptocurrencies, as confirmed by CNBC. As a result of this announcement, Bitcoin's price increased by approximately 1%, reaching the $116,000 mark for the first time since July 31. Ether also saw a significant rise, climbing over 4% and hitting a one-week high. The positive sentiment extended to crypto-related stocks in premarket trading, with Coinbase up 2%, Circle rising more than 3%, and Bitmine Immersion, a treasury stock of Ether, gaining 4%. Sharplink Gaming experienced an impressive rally, soaring by 7%. The potential inclusion of Bitcoin in U.S. retirement accounts has long been considered a pivotal moment for cryptocurrency adoption. This move could solidify Bitcoin's place within the U.S. financial system, broaden access to digital assets, and promote long-term investments. The retirement savings market currently boasts a value of $43 trillion. Fidelity has already taken initial steps to facilitate Bitcoin allocations in its 401(k) offerings, but the success of this initiative relies heavily on employer participation, which has been relatively low thus far. This executive order, initially reported by Bloomberg, marks another step in the Trump administration's efforts to position the U.S. as the global leader in cryptocurrency. In July, Trump also signed the GENIUS Act, establishing the first official U.S. legislation regarding stablecoins.