A research report singing the praises of the cryptocurrency mining sector was a key impetus behind Riot Platforms' (RIOT -1.26%) rise over the past few stock trading sessions. The Bitcoin (CRYPTO: BTC) specialist's shares were enjoying a nearly 11% lift week to date as of Friday before market open as a result, according to data compiled by S&P Global Market Intelligence.
Grayscale's Bitcoin Mini Trust ETF is gaining market share due to its low expense ratio of 0.15% and could grow into the top 5 Bitcoin ETFs in the coming months. Total Bitcoin ETF assets under management have grown from approximately $30bn to over $105bn in the last 12 months. As more individuals, institutions and governments adopt Bitcoin as a store of value, and as network supply decreases. Price per Bitcoin could reach prices over $200,000 before year-end 2025.
Cathie Wood is closely watched by many investors. Her firm, Ark Invest, focuses on innovative and disruptive companies it believes can register tremendous growth.
After finally breaking through the long-anticipated $100,000 mark, Bitcoin (BTC -0.15%) rallied to an impressive high of $108,000. However, it hasn't all been smooth sailing since.
The 2024 – and, hopefully, the 2025 – cryptocurrency bull market is appearing increasingly likely to, along with Bitcoin's (BTC) stellar performance, bring back another development from 2021: Tesla's (NASDAQ: TSLA) acceptance of BTC payments.
Now that Bitcoin (BTC 1.33%) has broken through the $100,000 price level, it's understandable why many investors are wondering just how much higher the world's most popular cryptocurrency can go. Bitcoin is now up about 115% for the year and about 500% during the past two years.
Bitcoin's (BTC 4.16%) price hit an all-time high of $103,332 on Dec. 4. Four main catalysts drove it to that point: the approvals of its first spot price ETFs in January; its latest halving in April, which cuts its rewards for mining in half every four years; interest rate cuts; and President-elect Trump's crypto-friendly policies.
The S&P 500 (^GSPC 1.09%) market index has seen a total return of 25% in 2024. That's a fantastic year for the stock market, but it can't hold a candle to the crypto market.
Friday's rebound rally didn't fully reverse all the selling from the Fed's rate cut outlook announcement. The committee voted to cut another 25BPS but curbed the rate of cuts it originally projected for 2025.
TORONTO, ON / ACCESSWIRE / December 20, 2024 / Quantum BioPharma Ltd. (NASDAQ:QNTM)(CSE:QNTM)(FRA:0K91) ("Quantum BioPharma" or the "Company"), is pleased to announce that after receiving approval from the Board of Directors, the Company has purchased USD $1,000,000 Bitcoin (BTC) and other cryptocurrencies as part of its strategic efforts.
Tom Lee is the head of research at Fundstrat Global Advisors. He correctly anticipated the stock market rally that lifted the S&P 500 out of bear market territory last year.
2024 is on track to be one of the best years in modern history for the stock market, and two of the most popular investments are a big reason why.