Key Points
- Bitcoin’s resilience and potential for further growth is highlighted by Riot Platforms’ VP of Research.
- Bitcoin’s performance in 2024 was bolstered by key macro and institutional developments.
Bitcoin [BTC] has shown resilience and potential for further growth, according to Pierre Rochard, Vice President of Research at Riot Platforms. Despite the year-end crypto crash of 2024, Bitcoin has reclaimed its spotlight at the start of 2025, bringing a wave of optimism.
Bitcoin’s Foundational Strength
Rochard emphasized BTC’s foundational strength, stating, “Bitcoin is engineered to be the most reliable monetary system in the world for savings and payments.” This comment came after Rochard announced that the Bitcoin network processed over $19 trillion in transactions throughout 2024, more than doubling the $8.7 trillion settled in 2023.
Bitcoin’s Remarkable 2024 Performance
Bitcoin’s performance in 2024 was not an isolated event. Key macro and institutional developments such as the U.S. approval of Bitcoin exchange-traded funds (ETFs), Bitcoin’s April halving event, and the U.S. presidential election contributed to this performance. These factors propelled Bitcoin to a historic peak of $108,000.
However, Bitcoin ended the year near $91,000, reminding investors of its volatility. The start of 2025, however, saw a recovery in Bitcoin’s price. Technical indicators suggest upward momentum, with Bitcoin trading at $97,771 at the time of writing.