The Crypto Year 2024
The year 2024 was a significant one for Bitcoin, as it remained a constant topic in mainstream media and even beyond the crypto scene. Despite reaching an impressive high of over $100,000, its performance, with a gain of 121%, was considered "moderate" compared to previous years like 2013 and 2017 when gains were much higher. According to Tippinpoint (https://www.tippinpoint.ch/artikel/77811/so_war_das_kryptojahr_2024.html), meme coins dominated the market last year, with seven out of the ten top-performing assets being these so-called joke currencies.
A major development in the cryptocurrency world was the approval of eleven exchange-traded funds (ETFs) that track Bitcoin's spot price in the United States. The BlackRock iShares Bitcoin Trust emerged particularly successful among them, achieving a market capitalization of $51 billion by year's end. Furthermore, Ethereum-based ETFs also gained traction but did not match their Bitcoin counterparts' volumes.
Saxony made headlines due to its unfortunate handling of seized Bitcoins from an investigation into a video-streaming platform. Instead of holding onto this strategic asset reserve like other countries are considering, Saxony sold off all 50,000 Bitcoins at around $52,000 each before prices soared further towards $93,000 by December’s close – effectively losing billions according to calculations shared by Tippinpoint.
Bitfarms Ltd.'s Production Results for December
According to Marketscreener CH (https://ch.marketscreener.com/kurs/aktie/BITFARMS-LTD-62037823/news/Bitfarms-Ltd-meldet-Produktionsergebnisse-fur-den-Monat-und-das-Jahr-bis-Ende-Dezember-2024-48674099/), Bitfarms Ltd. reported their production results up until the end of December, which highlighted substantial growth in both monthly metrics and annual figures. This public disclosure underscores their strong position within competitive mining landscapes globally, while continuing expansion efforts across various operational fronts. They are simultaneously ensuring sustainable profitability moving forward as long-term strategies implemented have yielded positive outcomes consistently observed during recent quarters.
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