Bitcoin doubles in 2024 to $100,000 on ETF approval, Trump optimism, driving crypto market surge.

From Investing.com: 2024-12-31 13:25:35

Bitcoin more than doubled in 2024, reaching $100,000, driven by U.S. regulator approval for ETFs and optimism over Trump’s return to the White House. Ether also surged nearly 50%, propelling the crypto sector to a $3.5 trillion market value.

Analysts predict further gains in 2025, with Bitcoin expected to hit $200,000. Companies like MicroStrategy have seen shares soar as they invest in Bitcoin, with the digital asset becoming a store of value asset.

The SEC’s approval of ETFs tracking Bitcoin spot price in January marked a turning point for the industry, gaining institutional legitimacy. With Trump’s victory promising pro-crypto policies, the industry received a further boost.

While some companies like MicroStrategy and Coinbase thrived in 2024, others like Riot Platforms and Marathon Digital saw shrinking margins and lost between 26% and 32% in share value.



Read more at Investing.com: Bitcoin more than doubles in 2024 on spot ETF approval, Trump euphoria By Reuters