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    Home»Cryptocurrency»Where Does Crypto Stand in 2024?
    Cryptocurrency

    Where Does Crypto Stand in 2024?

    October 25, 20244 Mins Read


    Paid content with Bazoom Group. The information in this article is not intended to be personal financial advice.

    Over the last decade, investments have expanded beyond real estate, gold, bonds, stock, mutual funds, and the like to include cryptocurrency and presale tokens. As Alan Draper states, investing in crypto presales can be a good way to earn passive income due to their high growth potential. Bitcoin and altcoins are now on the list of standard investment options in the US and globally. Right from the first launched crypto Bitcoin in 2009, there are now thousands of assets, including altcoins, stablecoins, utility tokens, and more. Many prominent names that were against Bitcoin have now changed their hearts about digital currencies and now publicly acknowledge them.

    The US is experiencing a remarkable surge in crypto adoption, with both the young and the old placing their trust in the potential of Bitcoin, Ethereum, and other coins. The ownership rates of crypto in America have seen a significant 10% increase between 2023 and 2024, marking a positive trend. A Pew Research Center survey revealed that approximately 17% of American adults owned cryptocurrency last year. Another report indicated that 70% of these crypto owners were men. Fast forward to 2024, and the awareness and ownership rates of crypto among Americans have surged from 30% to 40%. This means that a staggering 93 million Americans now own at least one crypto, marking a historic high in the US crypto landscape. Before this new record, the highest ownership rate was 33% in 2022.

    Interestingly, women are also making significant strides in the crypto industry, not just as investors but also in news reporting, podcasts, and roles in blockchain companies. The percentage of women who own crypto between 2023 and 2024 jumped from 18% to 29%, a substantial increase. The current numbers are still subject to trajectory this year, based on a survey of non-owners who declared their intentions to acquire some crypto this year. About 15% of Americans who currently have no investment in digital coins as of 2023 planned to purchase some before the end of 2024.

    At the same time, more people are remaining committed to crypto investment and plan to obtain more in 2025, indicating a stable and growing market. The top cryptos of interest for next year are BTC, ETH, DOGE, and ADA. These coins are also in the top 5 for 2023, with SHIB being one of the five most owned crypto in 2024.

    Crypto’s Significant Acquisitions in 2020/2021

    Multiple reports show that many crypto investors made their first acquisitions in 2020 and 2021 amid the significant BTC price spike. Also, some analysts attributed the investment volume to the global health crisis that forced the world to stay home. Many people had much time to spare during the life-changing period and started seeking options to diversify their investment portfolios. People continue to have more reasons to acquire crypto over the years, apart from merely investment purposes. Many investors believe crypto is the future, and many more are interested in the technology behind digital currencies.

    Notably, crypto enthusiasts are not limited to just individuals. Institutions are also acquiring cryptocurrencies as a part of their investment strategies. MicroStrategy Inc. was the first publicly traded company to buy Bitcoin in August 2020. After the initial purchase of 21,454 BTC worth $250 million at the time, the company has continued to amass more Bitcoin. Its most recent buy of 18,300 BTC for $1.11 billion is a further testament that investors believe that crypto is indeed the future.

    However, crypto has a few concerns, especially with the increased attacks by cybercriminals and the complexities of its regulations and oversights.





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