As of December 27, 2024, Bitcoin (BTC) is trading at approximately $96,739, reflecting a 1.23% increase over the past 24 hours.
This year, Bitcoin has experienced significant growth, surpassing the $100,000 mark earlier in December. This surge is attributed to several factors, including the approval of Bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) in January, which facilitated institutional investment. Additionally, President-elect Donald Trump’s pro-crypto stance and plans to establish a national Bitcoin reserve have further boosted market confidence.
Internationally, Russia has begun utilizing Bitcoin and other digital currencies for foreign trade to circumvent Western sanctions. Finance Minister Anton Siluanov indicated that legislative changes have enabled Russian companies to engage in international payments using cryptocurrencies.
In the corporate sector, KULR Technology Group’s stock reached an all-time high following its announcement of a $21 million Bitcoin purchase. This move aligns with a growing trend of companies allocating surplus cash to Bitcoin, reflecting increased confidence in the cryptocurrency’s long-term value.
Despite recent fluctuations, Bitcoin remains on track to conclude 2024 with over 100% gains, underscoring its resilience and growing acceptance in both institutional and international arenas.
Please note that cryptocurrency markets are highly volatile. It’s essential to conduct thorough research and consider your financial situation before making investment decisions.
Stay tuned to Coin Gyaan for more updates, analyses, and insights into the world of cryptocurrencies.
