Bitcoin Surges Over 100% in 2024 Following ETF Approval and Trump Win
Bitcoin’s value skyrocketed in 2024, fueled by ETF approvals and excitement over Trump’s return, marking a significant shift in the crypto landscape
Bitcoin, ETF, Trump, MicroStrategy, Crypto, USA
Bengaluru: So, Bitcoin has really taken off this year! It more than doubled in value, hitting a whopping $100,000. This surge is mainly thanks to the U.S. approving those exchange-traded funds (ETFs) that track Bitcoin’s spot price. Plus, there’s a lot of buzz with Trump possibly heading back to the White House, which has got everyone feeling optimistic.
The whole crypto scene is buzzing, with Bitcoin’s rise pushing the market value to around $3.5 trillion. Analysts are even saying we might see Bitcoin hit $200,000 by late 2025. Can you believe that?
MicroStrategy, a software company, has become a big player in the Bitcoin game, seeing its shares skyrocket this year. It’s like their stock is now a stand-in for Bitcoin itself. Other companies are starting to follow suit, putting some of their cash into Bitcoin too.
All this excitement kicked off back in January when the SEC gave the green light for the first Bitcoin ETFs. That was a game-changer for the crypto world, making it feel more legit and appealing to big finance players like BlackRock and Fidelity.
And with Trump promising to make the U.S. the “crypto capital of the planet,” the industry is feeling pretty good about itself. Crypto supporters even poured millions into his campaign, hoping to see more friendly policies for the sector.
While some companies are riding high, not everyone is doing well. Some crypto miners are struggling with rising costs and missed out on this year’s rally. Stocks like Riot Platforms and Marathon Digital have taken a hit, losing quite a bit of value.