According to data provided by Pierre Rochard, Vice President of Research at Riot Platforms, the transaction volume settled through the Bitcoin network in 2024 will exceed $19 trillion, more than double the $8.7 trillion settled through the network in 2023, reversing the trend of declining transaction volumes for two consecutive years since 2021. Data shows that Bitcoin transaction volumes peaked during the bull market in 2021, reaching approximately $47 trillion, and then sharply declined in 2022 and 2023. Rochard noted that the significant rebound in transaction volume last year proves that Bitcoin is both a store of value and a medium of exchange.