The holiday season is here! And it’s time to reflect and celebrate.
Bitcoin has had quite a year. From ETFs to significant technological innovations, the original blockchain phenomenon has smashed through expectations. But that’s just the beginning.
Here are eight reasons why you should be celebrating Bitcoin this year.
Wall Street finally jumps on the Bitcoin train.
On January 10, 2024,* (as mentioned on chainalysis.com), spot Bitcoin ETFs became available for trading. These exchange-traded funds allowed traders and investors to buy BTC using traditional investing systems and infrastructure.
It was a huge moment for the crypto-verse. Not only does it mean BTC is going mainstream, but more people now have access to the world’s most popular cryptocurrency.
On the back of the ETF announcement came the institutions. These are those major financial players who, in the past, shot down the idea of a digital decentralized currency like BTC.
But, they can no longer ignore BTC’s impressive growth.
While plenty of companies and organizations hold Bitcoin, having these institutions on board marks a new era.
Even the officials at the Federal Reserve are having a change of heart. One such official who called BTC “worthless” and “nonsense”* (read more on coindesk.com) now says he’s got an open mind after the ETFs’ massive success.
It’s not just the markets feeling the BTC excitement this year. The world’s most popular blockchain also saw some pretty significant upgrades.
The Taproot upgrade, some of the most important technical upgrades since 2021, helped streamline transaction processing, making everything more efficient in terms of speed and costs.
This upgrade also opened up some new opportunities for on-chain innovations.
For the longest time, every other blockchain had a growing ecosystem of apps and on-chain opportunities. BTC, though, was a bit left behind. Well, no more.
With the Taproot upgrade bringing some enhancements to the blockchain, savvy developers have worked out some novel ways to bring some fun on-chain. Here are a few of those developments:
It’s not just the banks and institutions catching crypto fever. Some countries are also buying up BTC.
While countries like El Salvador made headlines back in 2021, we’re now seeing more and more national leaders talking about crypto. Here in the U.S., everyone from presidents* (as mentioned on thestreet.com) to senators are talking about a strategic Bitcoin reserve — putting BTC in the same camp as petroleum and gold.
We’ll have to wait and see what 2025 holds for the crypto industry, but many are feeling optimistic about Bitcoin’s future.
Bitcoin Depot is having a great year, too! These days, you can find a Bitcoin Depot location just around the corner. With over 8,400 Bitcoin ATMs (BTMs) (as of November 2024) and counting, you’re never too far away from a seamless cash purchase of BTC.
And we’re expanding faster than ever. Not only in our network of BTM locations, but also with our team. We’ve welcomed plenty of new faces into the Bitcoin Depot family, and we’re as excited as ever about what the future holds!
If there is one thing BTC is known for, it’s huge surges in price. 2024 was no exception.
As of this writing, BTC has broken the $100K price milestone. For those keeping count, that’s almost a 140% price increase* (data from coinmarketcap.com) from the beginning of the year. Even the most optimistic predictions are being left in the dust.
What’s next? While we don’t have a crystal ball here, we do know one thing: it’s always a great time to buy BTC.
It seems like everyone has Bitcoin on their mind these days.
Back in 2009, BTC was just a spark. Since then, it’s seen massive growth. Even so, it hasn’t really received the recognition it deserves. That’s changing. With ETFs, institutional adoption, and government attention, it’s safe to say that BTC is no longer a niche digital product.
It’s mainstream now. Around 40% of Americans* (as mentioned on security.org) own cryptocurrency of some kind, up from 30% in 2023. It’s part of everything from traditional investment portfolios to state pension funds.
We’re entering a new phase for the world’s most popular cryptocurrency. The sky seems to be the limit!
So, there you have it: eight reasons to celebrate Bitcoin this holiday season. From new opportunities on-chain to growing excitement, 2024 was a year for the history books.
But that’s just the beginning.
2025 could have a lot in store for crypto. With everyone warming up to the industry and more and more users joining the crypto community, we only have one way to go, and that’s up!
Bitcoin Depot will be there to help you along the way.
With over 8,400 BTM locations (as of November 2024), you can count on us for the best cash-buying experience.
Find your local BTM to get started.
*The information provided above is for informational purposes only. The inclusion of any particular 3rd party site does not imply an endorsement, sponsorship, or partnership between Bitcoin Depot and the 3rd parties listed above. While Bitcoin Depot endeavors to ensure the accuracy and relevance of the information provided, we do not guarantee the reliability of any 3rd party’s information.