Unlike traditional financial markets, cryptocurrency is always on, 24/7/365. That’s one reason every calendar year feels like five or even 10 years in the world of crypto. Everything moves faster.
A new altcoin that’s obviously a joke – I mean, its name is Fartcoin! – can do this:
The joke crypto, which is even more useless than Dogecoin, a cryptocurrency started as a parody, is on a tear these days. Fartcoin’s market cap of nearly $800 million now exceeds that of several well-known brands, including Office Depot, Guess, Ethan Allen, and ZipRecruiter.
But that’s nothing but a sideshow.
Between me and you, the year 2024 will go down in history as a milestone for cryptocurrency. Not just as the newest and most revolutionary financial asset.
And not just for the massive surge in cryptocurrency adoption. Or the groundswell of support for a strategic bitcoin reserve.
Not for the astonishing surge in prices, either…
Nope – it’s the combination of all these developments that made 2024 a breakthrough year for cryptocurrency.
Although it’s tough to pick my favorites – so many amazing things have happened! – here are my five biggest developments of the year.
Crypto ETF approval and institutional adoption
A pivotal development was the U.S. Securities and Exchange Commission’s (SEC) approval of spot bitcoin and ether funds in January. Crypto-curious investors can now diversify with digital assets with nothing but a brokerage account.
Crypto came to traditional finance wrapped up in a package TradFi could understand. The resulting crypto ETFs have collectively amassed over $125 billion in cryptocurrency investments. What does that tell us? I think it underscores the growing interest in cryptocurrency as a financial asset – among institutional investors and everyday Americans, too. C
So there’s a lot of capital flowing into crypto right now…
Crypto takes the capitol, too
The election of President Donald Trump has ushered in a crypto-friendly administration, pledging to make the U.S. the “crypto capital of the planet.” This shift has been accompanied by the appointment of cryptocurrency advocates to key regulatory positions, signaling a more supportive stance toward digital assets.
Such regulatory clarity is essential for fostering innovation and providing investors with confidence in the market’s stability. Capital hates uncertainty – and, as we’ve already seen from the amazing growth in crypto ETFs, when that uncertainty fades, the capital comes flooding in…
Wall Street sprints into crypto
Cryptocurrencies have seen increased adoption as both a reserve asset and a payment method. Major financial institutions and corporations have incorporated digital assets into their portfolios, recognizing their potential as a hedge against economic uncertainty.
And when I say “major financial institutions,” I’m talking about household-name megabanks like JPMorgan Chase and Goldman Sachs. World’s-largest-asset-manager BlackRock. Fidelity. The list goes on, but I hope you get the point.
In fact, crypto adoption has become a status symbol among corporations. , High-end luxury brands and retailers have begun accepting cryptocurrencies for payments. That trend reflects a broader and growing acceptance of crypto, as a financial asset and a payment method, across various sectors.
“Line go up” (and keeps going up)
The cryptocurrency market has experienced remarkable growth, with bitcoin surpassing the $100,000 mark for the first time.
This surge is attributed to increased institutional investment, regulatory support, and growing public interest. It’s really nothing but simple supply and demand – there’s a finite amount of bitcoin, period. As more and more capital comes into the cryptocurrency market, prices rise. Then they soar…
How high can they go? Analysts project that bitcoin could reach $180,000-$200,000 by the end of 2025, driven by limited supply and escalating demand.
A few years ago, anyone who said “$100k bitcoin” with a straight face was considered a madman. Today, we call them “experts.”
Not every year will be as great as this one
These developments have collectively advanced the integration of cryptocurrencies into mainstream finance, offering new opportunities for investors and policymakers alike. Everyone, from the U.S. Treasury Department to your Uber driver, is diversifying with crypto.
It makes sense. We can’t expect every year to be as good as 2024 has been – that would be absurd. In the same way, we can’t expect every year to be as bad as 2022 (remember all those Is This the End of Crypto? headlines?)
The market cap of crypto doubled over the last 12 months. $1.67 trillion to $3.26 trillion – that’s amazing! Even so, the total market cap of crypto compared to the rest of the financial world? Absolutely tiny.
The total global supply of just one asset, gold, is about $17 trillion.
Just ONE company, Apple, is bigger than the entire crypto market right now. (For comparison purposes, the sum total of all crypto is currently priced about the same as Microsoft.)
What does that mean? There’s still a VAST quantity of capital in the world! It’s been steadily trickling into crypto, in drips and drops. Soon, I believe that trickle will become a flood – then a tidal wave sweeping crypto prices to levels we can barely imagine today.
That means today, right now, is the perfect time to diversify your retirement savings with crypto. You can benefit not just from the massive growth potential crypto offers, but all the other benefits of diversification.
BitIRA is here to help everyday Americans claim their own piece of the future of money. Diversify with cryptocurrency using money you’ve already saved.
This year has solidified crypto’s role in the financial landscape through regulatory advancements, widespread adoption, and robust market performance. As the sector continues to evolve, everyone who’s realized what the future holds, and acted accordingly, stands to benefit.
Don’t miss out on this historic moment. Make sure you benefit from the future of money by opening your Digital IRA. You can get started right now in just 10 minutes, any time, day or night. Or you can contact a Digital Currency Specialist at (800) 299-1567 for a guided tour of the cryptocurrency marketplace.
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