According to data provided by Pierre Rochard, Vice President of Research at Riot Platforms, in 2024, the transaction volume settled through the Bitcoin network will exceed $19 trillion, more than double the $8.7 trillion settled through the network in 2023, reversing a decline in transaction volume that has persisted for two consecutive years since 2021. Data shows that Bitcoin transaction volume peaked during the bull market in 2021 at around $47 trillion, followed by a sharp decline in 2022 and 2023. Rochard pointed out that last year's significant rebound in transaction volume proves that Bitcoin is both a store of value and a medium of exchange.