Bitcoin hit new all-time highs of $123,000 before pulling back during a big policy week in the US for cryptocurrency.

The crypto sector's market value hit $4 trillion on Friday, according to CoinGecko, marking a milestone that reflects its shift from a nascent asset class to a central part of the global investment landscape.

Bitcoin reached all-time high above $123,000 as lawmakers prepare crypto regulatory bills during "Crypto Week," following Trump's pledge to make the U.S. a "bitcoin superpower."

Texas is the third state to install a cryptocurrency reserve, following New Hampshire and Arizona. Sen. Hagenbuch said he isn’t sure what the future of cryptocurrency in Texas will be, but he will do his best to look out for the best interests of Texans.

The cryptocurrency has extended its rally as lawmakers consider legislation that would bring digital tokens further into the mainstream.

Bitcoin was trading above $120,000 on Monday as U.S. lawmakers were set to consider a series of crypto-related bills.

On today's episode of CNBC Crypto World, bitcoin climbed after the House approved a procedural vote to consider three key crypto regulation bills after GOP lawmakers halted their passage the day before.

Crypto firm Bitcoin Standard Treasury Company said on Thursday it is aiming to list on the Nasdaq through a merger with a Cantor Fitzgerald-backed blank check vehicle.