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2024 Crypto Investment Outlook

Primers

What a difference a year makes.

Twelve months ago, the crypto industry was facing an unprecedented moment of distrust, bitcoin was trading around $16,000, and the cover of The Economist proclaimed “Crypto’s Downfall.”

Today, the fraudster at the heart of last year’s distrust faces over 100 years in prison, bitcoin is trading above $38,000, and BlackRock’s CEO believes crypto is playing a “flight to quality” role for investors.

As the dust has settled this year, both Bitcoin and Ethereum have been shining bright.  The world’s first cryptocurrency was tested in the first quarter as US bank failures dominated headlines, but its sustained outperformance is a clear sign its role as a digital store of value in uncertain times is only getting stronger. And the acceptance and development of Ethereum is helping investors fully recognize the important role crypto will play in portfolios. Soon, this will be much easier for US investors as they gain access to both Bitcoin and Ethereum through the familiar structure of an ETF.

 

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