3 major developments that spurred crypto adoption in 2024

December 28, 2024 Coin Telegraph

The crypto industry witnessed historic milestones in 2024, from MiCA regulations in Europe to Bitcoin adoption in Latin America and the US eyeing a strategic Bitcoin reserve.

In 2024, global cryptocurrency adoption surged as Bitcoin broke price records and governments began integrating crypto into their financial frameworks. From Bitcoin’s historic milestones to Europe’s regulatory strides, 2024 set the stage for crypto’s mainstream integration.

Cointelegraph has put together some of the most significant events that bolstered mainstream cryptocurrency adoption in 2024, from a potential United States strategic Bitcoin (BTC) reserve to the world’s first crypto regulatory framework and the latest countries exploring crypto adoption.

Bitcoin may be adopted as a savings technology by the United States government during the next four years under the incoming administration of President-elect Donald Trump.

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Hoth Therapeutics allocates $1M to Bitcoin as treasury asset

November 20, 2024 Coin Telegraph

Bitcoin

Hoth Therapeutics allocates $1 million to Bitcoin, reflecting rising business adoption amid increasing attention on BTC’s inflation-resistant value.

Hoth Therapeutics, a clinical-stage biopharmaceutical company, has allocated up to $1 million to Bitcoin, aiming to leverage the cryptocurrency’s potential as a store of value and hedge against inflation.

The company’s board of directors approved the move, reflecting a growing trend among businesses in the United States amid renewed interest in Bitcoin (BTC) following Donald Trump’s reelection as president.

This trend aligns with recent comments from US Senator Cynthia Lummis, who has urged the US Treasury Department to consider converting some of its gold reserves into Bitcoin.

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Chinese microchip company says it’s now accepting Bitcoin as payment

November 12, 2024 Coin Telegraph

Bitcoin Payments

Huangzhou-based crypto mining chip maker Nano Labs saw its share price rise slightly after announcing it will start accepting Bitcoin as payment.

Shares in China-based crypto mining chip designer Nano Labs rose slightly after announcing it is now accepting Bitcoin as payment for its goods and services through a business account on Coinbase.

In a Nov. 11 statement, the Huangzhou-based crypto mining chip maker, which is listed on the Nasdaq, said the move was part of a “commitment to embracing the latest in financial technology” as demand increases for “digital currency transactions in the technology sector.”

Nano Labs said it was taking a “proactive stance in the evolving digital economy” as crypto “adoption continues to grow, particularly among businesses seeking efficient and secure cross-border transactions.”

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Low Investment Threshold, Greater Financial Control Lure Aussies to Crypto, Study Finds

September 4, 2024 Bitcoin.com

Alternative Investment

The report indicates that Australia has a higher cryptocurrency adoption rate with one in every five current or past crypto holders. Key factors driving adoption include the relatively low investment threshold, greater financial control, and a perception of increased equality. However, barriers such as lack of knowledge and understanding hinder adoption. Aussies Embrace Alternative Investments […]

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Rollups Are ‘Copies of the EVM,’ Not True Scaling Solutions, Says Developer

September 1, 2024 Bitcoin.com

bitcoin.com

According to Adrian Brink, co-founder of Anoma and Namada, rollups offer little new functionality beyond the Ethereum Virtual Machine (EVM). He argues they are essentially execution-sharding solutions presented as true scaling solutions. Brink instead touts Plasma as the “only true scaling solution out there” because it enables constant data posting to the main chain “regardless […]

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Study: 14% of ‘Early Adopter’ Kiwis Own Cryptocurrency; Majority Favor It Over Real Estate

June 11, 2024 Bitcoin.com

bitcoin.com

At least 14% of New Zealanders surveyed said they have owned cryptocurrency or held digital assets in the past. The findings categorize New Zealanders as early adopters, indicating they were quick to recognize the potential of cryptocurrency. Survey data reveal that only 16% of respondents would invest in real estate, compared to 60% who plan […]

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Bitcoin’s Average and Median-Sized Network Fees Rose 40% Higher in March

March 31, 2023 Bitcoin.com

150 bitcoin

In March 2023, Bitcoin’s average and median-sized fees jumped more than 40% higher after rising 122% in 10 days during the first week of February. The fees have followed the Ordinal inscription trend as more than 662,000 inscriptions reside on the Bitcoin blockchain, and 150 bitcoin worth $4.2 million have been added to fees. Bitcoin […]

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Report: Number of African Cryptocurrency Users up by Nearly 2,500%

March 22, 2022 Bitcoin.com

Africa

The number of cryptocurrency users in Africa grew by almost 2,500% between January 2021 and January 2022, while the average number of monthly transactions went up by 1,400%, a new report by Kucoin has said. Widespread Adoption of Cryptocurrencies According to a new report by crypto exchange Kucoin, the number of cryptocurrency users in Africa […]

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Global Crypto Owners Predicted to Surpass 1 Billion This Year

January 26, 2022 Bitcoin.com

bitcoin.com

The number of global crypto owners is expected to exceed one billion by the end of the year, according to a report by Crypto.com. “Nations can no longer afford to ignore the growing push to crypto by the public. We may in many cases expect a friendlier stance towards the crypto industry,” the company said. […]

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Fidelity Expects More Countries to Acquire Bitcoin Citing ‘Very High Stakes Game Theory’

January 17, 2022 Bitcoin.com

bitcoin adoption

Fidelity expects more sovereign nation states, or even a central bank, to acquire bitcoin this year. “There is very high stakes game theory at play here, whereby if bitcoin adoption increases, the countries that secure some bitcoin today will be better off competitively than their peers,” the firm explained. Fidelity’s Crypto Predictions Fidelity Digital Assets, […]

cryptocurrency adoption

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