The cryptocurrency market in 2024 saw significant growth and volatility, fueled by key events such as the launch of a spot Bitcoin ETF, Bitcoin's April halving, and support from President Trump. These developments also drove remarkable performance in cryptocurrency-related stocks.
Top Performers in 2024:
MicroStrategy (MSTR):
Performance: Up 402%, bringing its market value to $83 billion.
Key Factor: Continued to solidify its position as the largest corporate holder of Bitcoin with significant BTC acquisitions.
Core Scientific (CORZ):
Performance: Up 307%.
Key Factor: Secured a 12-year contract with AI leader CoreWeave, boosting investor confidence.
Terawulf (WULF):
Performance: Up 142%.
Bitdeer Technologies (BTDR):
Performance: Up 122%.
Market Context:
S&P 500: Rose 25%, reflecting a strong year for the broader market.
Bitcoin: Increased nearly 120%, driven by heightened institutional adoption and market enthusiasm around ETFs and halving cycles.
