Bitcoin’s value surges past $100,000, Trump victory drives crypto optimism

In 2024, Bitcoin exceeded $100,000, fuelled by spot ETF approval and Trump’s pro-crypto policies.

Bitcoin exceeded $100,000 in 2024, fuelled by spot ETF approval and Trump’s pro-crypto policies.

Bitcoin surged past $100,000 in 2024, more than doubling its value, driven by pivotal regulatory and political developments. The US Securities and Exchange Commission’s approval of exchange-traded funds tied to Bitcoin’s spot price marked a significant milestone, attracting mainstream and institutional interest in the cryptocurrency sector.

A broader crypto rally saw Bitcoin gain over 120% and Ethereum rise nearly 50%, boosting the market’s total value to $3.5 trillion. Analysts predict Bitcoin could reach $200,000 by late 2025, solidifying its status as a premier store of value. Enthusiasm for the asset class has extended to corporate treasuries, with firms like MicroStrategy leading the charge.

MicroStrategy’s shares quintupled in 2024, reflecting its substantial Bitcoin holdings. Other companies, including major financial players, are incorporating Bitcoin into their portfolios. Meanwhile, Donald Trump’s victory in the US presidential election, coupled with his pro-crypto stance, further energised the market.

Despite the rally, challenges persist for smaller crypto miners. Rising energy and hardware costs have limited gains for firms like Riot Platforms and Marathon Digital, which struggled against the year’s bullish trends.