The cryptocurrency market is experiencing significant developments as 2024 concludes. Here are some of the most notable updates:
Bitcoin Surges Past $100,000
Bitcoin has surpassed the $100,000 mark, driven by the recent U.S. presidential election results. President-elect Donald Trump has pledged to position the U.S. as a leading hub for cryptocurrency, instilling optimism among investors and industry stakeholders.
Wall Street Banks Embrace Crypto
Major Wall Street institutions, including Barclays, Citigroup, Goldman Sachs, and JPMorgan, are increasingly participating in cryptocurrency-related capital raising. This shift is attributed to favorable regulatory prospects and the substantial fees associated with crypto deals.
Coinbase Stock Outperforms Bitcoin
Coinbase Global's stock has risen by 52% since October 2024, outpacing Bitcoin's 37% increase during the same period. The company's growth is linked to expectations of a more crypto-friendly regulatory environment under the incoming administration.
Ethereum Co-Founder Donates to Thai Zoo
Vitalik Buterin, co-founder of Ethereum, has donated over $290,000 to Thailand's Khao Kheow Open Zoo. The funds are designated for enhancing the enclosure of Moo Deng, a baby pygmy hippo, and supporting other zoo improvements.
Market Outlook for 2025
Analysts predict that Bitcoin could reach or surpass $200,000 by the end of 2025, driven by limited supply, growing institutional demand, and anticipated favorable regulatory changes. However, potential volatility and the impact of future policies remain considerations for investors.