#BitwiseBitcoinETF

New Highs With 65% Growth In 2024

In 2024, Bitcoin experienced an extraordinary rise in popularity on the social media platform X, formerly known as Twitter. According to recent data, mentions of Bitcoin on X increased by 65% year-over-year, with users publishing over 140 million tweets about the cryptocurrency.

This uptick reflects a growing interest in Bitcoin, driven by significant developments in the market and a vibrant community of investors and enthusiasts.

Major Events Fueling Interest

This spike in Bitcoin-related discourse occurred at a time when critical events were unfolding in the crypto space. In the first quarter of the year, the US Securities and Exchange Commission had granted its long-awaited approval for spot Bitcoin exchange-traded funds.

The ETF complex raised over $110 billion in assets within a short time, even more than that attributed to Bitcoin’s enigmatic creator, Satoshi Nakamoto. Institutional acceptance in this way further legitimized the alpha crypto, attracting both new and old investors.

But with time, the enthusiasm about Bitcoin kept oscillating. The buzz subsided in February, then rose again in November due to the election of Donald Trump as US President, promising America would be the epicenter for cryptocurrency innovation.

Bitcoin again picked up pace when it reached a new record high of $108,000 in early December and breached a crucial psychological threshold