2024 was an exhilarating year for me as a seasoned investor and tech enthusiast! I’ve seen my fair share of market cycles, but nothing quite prepared me for the wild ride that the cryptocurrency world took us on this past year.
From the launch of Bitcoin ETFs in January to the historic milestone of Bitcoin hitting $100,000 in December, it was a non-stop thrill ride! I remember vividly the days when Bitcoin was still a niche concept, and now here we are with these products surpassing the legendary Satoshi Nakamoto himself in terms of total Bitcoin holdings.
I’ve always been a firm believer that technology has the power to transform our lives, and 2024 was no exception. The debut of these Bitcoin ETFs helped to solidify the bullish cryptocurrency narrative, with BlackRock’s iShares Bitcoin Trust ETF shattering new milestones left and right.
But it wasn’t all sunshine and rainbows; there were certainly some bumps in the road, like Gary Gensler’s resignation announcement and the legal battles between the SEC and key players in the crypto space. Still, I remain hopeful that his replacement will bring a more welcoming stance towards our industry.
Looking ahead to 2025, I’m excited about the potential for further growth and innovation in the cryptocurrency sector. And as we ring in the New Year, I can’t help but chuckle at the thought of Bitcoin ETFs surpassing even more milestones, waking up to eye-popping inflows that could make us all millionaires one day! Happy New Year, fellow crypto enthusiasts – may your portfolios be full and your adventures in this exciting world continue!
2025 is eagerly anticipated by folks worldwide, with firework displays and grand celebrations on the horizon. As we bid farewell to the eventful year of 2024, it’s only fitting for U.Today to recap some of the significant cryptocurrency news stories that have shaped this dynamic year.
12. Kabosu, the face of the Doge meme, passes away (May)
Kabosu, the dog behind the legendary Doge meme, passed away in May at the age of 18.
Originally, a Shiba Inu, one of Japan’s best-known dog breeds, gained its worldwide fame through being adopted from a puppy mill and later skyrocketing to internet stardom on its own merit.
The Doge meme inspired the Dogecoin cryptocurrency, which is currently valued at $47 billion.
The DOGE meme coin experienced a major rally in 2024, surging by more than 250%.
card
11. Ripple launches RLUSD stablecoin (December)
In the midst of an ongoing legal dispute with the U.S. Securities and Exchange Commission (SEC), the San Francisco-based blockchain firm, Ripple, has ventured into the stablecoin market by introducing its RLUSD token.
While embroiled in a legal tussle with the SEC, Ripple, a blockchain company based in San Francisco, has made a move into the world of stablecoins by launching the RLUSD token.
This stablecoin, known for its commitment to regulatory adherence, is set to challenge established frontrunners like Tether (USDT) and Circle’s USD Coin in the marketplace.
card
10. Celebrity meme coin mania (May)
In the summer of 2014, Iggy Azalea reigned supreme as the trendiest lady, thanks to her smash hit “Fancy.” Remarkably, she was the first artist since The Beatles to hold the top two positions on the Billboard Hot 100 chart at the same time.
In a brief period, the popular Australian rapper’s music career waned, but in 2024, she made a comeback by introducing a meme coin on the Solana platform. The value of this coin reached a record high market capitalization of $250 million.
Besides Azalea, various other C-list celebrities have hopped onto the fleeting and contentious trend of creating celebrity-themed cryptocurrencies.
card
9. Germany’s Bitcoin selling spree (July)
This past summer, the German state of Saxony stirred up quite a commotion among Bitcoin enthusiasts by engaging in an extensive sale of Bitcoins.
In January 2024, Germany found itself in possession of around 50,000 Bitcoins following the confiscation by local authorities from a closed movie piracy site. Subsequently, they decided to sell off this entire Bitcoin cache.
2024 saw Bitcoin enthusiasts celebrating their triumph as the value of Bitcoin significantly increased towards the end of that year.
card
8. HBO’s Satoshi documentary
Recently, the crypto world gained wider public interest following the debut of a highly anticipated documentary about Satoshi Nakamoto on HBO.
Turns out, what everyone expected to be an exciting breakthrough, turned out to be quite disappointing instead. The documentary claimed that Canadian developer Peter Todd was the one responsible for initiating everything.
The documentary failed to bring anything new to the table, mainly regurgitating old information.
card
7. Bitcoin halving (April)
On April 19th, Bitcoin underwent its fourth halving event, which ultimately lowered the block reward from 6.25 BTC to 3.125 BTC after every four years.
The occurrence of the halving event raised questions about the longevity of Bitcoin mining operations. With reduced block rewards, smaller-scale miners faced increased challenges in achieving profits.
Individuals who predicted an increase in Bitcoin prices following the halving event were proved right yet again. While cause and effect may not always be directly linked, it’s worth noting that this is the fourth time Bitcoin’s price has significantly risen in the same year when the block reward was reduced.
card
6. Mt. Gox repayments finally start (July)
The Mt. Gox drama has been hanging over the Bitcoin space like the sword of Damocles for a decade.
In early 2014, the fall from grace of the uncontested market ruler occurred following a highly criticized cyber-attack that led to the misfortune of approximately 750,000 Bitcoins being stolen.
As creditors desperately sought to retrieve their coins, there was also a lingering apprehension throughout the market about potential heavy selling.
Beginning in July, Mt. Gox initiated its repayments, which briefly triggered a decline in the market. Contrary to certain predictions, the creditors of Mt. Gox didn’t immediately flood the market by selling their tokens in large quantities.
card
5. Former FTX and Binance CEOs go to jail
For years, the dramatic decline of a person once considered the likely successor to Warren Buffett has been extensively reported on.
As a researcher looking back on events, I find myself reflecting on the protracted FTX ordeal that stretched into the year 2024. In a dramatic turn of events, the founder and former CEO, Sam Bankman-Fried, was handed a 25-year prison sentence in March.
Previously, the ex-CEO of Binance, commonly known as CZ, was given a four-month jail term which he served at Lompoc II, a low-security prison situated in California.
4. MicroStrategy’s market cap hits $100 billion (November)
2024 saw the remarkable ascent of MicroStrategy, with its stock value skyrocketing an astounding 500%. In contrast to Bitcoin, this company’s performance far surpassed the digital currency’s growth.
MSTR surpassed its previous all-time high, exceeding the level it reached during the height of the dot-com bubble in March 2000.
Despite being relatively unheard of only a few years back, MicroStrategy nearly matched Intel’s market capitalization following its remarkable resurgence, showcasing its impressive growth trajectory.
The co-founder of MicroStrategy, Michael Saylor, gained significant popularity in the investment realm, amassing a following of nearly four million individuals on platform X.
Meanwhile, Saylor’s approach of swapping debt for Bitcoin is facing growing doubts and scrutiny.
card
3. Gary Gensler’s resignation announcement (November)
The head of the Securities and Exchange Commission (SEC) is now a primary adversary for the troubled cryptocurrency sector, given his ongoing legal disputes with prominent crypto companies like Coinbase, Binance, and Ripple.
News of his resignation brought about a great deal of celebration across the crypto community in December.
In simpler terms, the cryptocurrency community is optimistic that a new appointee might bring a more welcoming approach after persistent efforts at persuasion, due to the intense lobbying they have undertaken.
card
2. Bitcoin hitting $100,000 (December)
The leading cryptocurrency finally managed to surge into six-digit territory on Dec. 5.
Despite the milestone falling short of expectations, it served as a powerful demonstration of the emerging asset’s tenacity.
The significant price achievement was reached only a few months following the Federal Reserve’s decision to lower interest rates for the first time in many years.
The digital currency experienced a surge as well, fueled by expectations for more favorable regulations in the United States.
card
1. Launch of Bitcoin ETFs (January)
The debut of Bitcoin ETFs helped to define the bullish cryptocurrency narrative of 2024.
The cryptocurrency world was amazed as these products consistently reached unprecedented heights, with people waking up to large investments flowing into BlackRock’s highly successful iShares Bitcoin Trust ETF.
More recently, the combined ownership of these products exceeded the amount of Bitcoin that Satoshi Nakamoto is believed to own.
Bitwise has predicted that these products will attract even bigger inflows in 2025.
Happy New Year! U.Today wishes you a prosperous and joyful 2025!
Read More
- VANRY PREDICTION. VANRY cryptocurrency
- EUR MYR PREDICTION
- LUNC PREDICTION. LUNC cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- OKB PREDICTION. OKB cryptocurrency
- USD MXN PREDICTION
- XRP PREDICTION. XRP cryptocurrency
- RSR PREDICTION. RSR cryptocurrency
- USD CAD PREDICTION
- EUR CAD PREDICTION
2024-12-31 22:36