In 2024, Bitcoin experienced a MAJOR surge, surpassing the 100,000 USD mark. This significant milestone was driven by the Bitcoin halving, leading to HIGH consolidation within the mining industry. Overall, the cryptocurrency market capitalization climbed to an impressive 3.78 trillion USD from 1.2 trillion USD the previous year.
2024 saw significant regulatory and legal controversies in the crypto world. Sam Bankman-Fried was sentenced for fraud connected to FTX, and Changpeng Zhao faced legal issues. Additionally, there was criticism towards Nischal Shetty for fund mismanagement after a hack at WazirX, highlighting the need for stronger regulations.
Elon Musk and Nayib Bukele were central to crypto’s narrative in 2024. Musk boosted Dogecoin’s profile, while Bukele further integrated Bitcoin into El Salvador’s economy. Their actions underscored Bitcoin’s growing role in global finance and elevated the cryptocurrency’s status to a more mainstream financial asset.