There were many crypto firsts in 2024: the first spot bitcoin ETF, the first spot ether ETF, the first time a pension fund invested in the asset class.

But as the expression goes, they saved the best for last: In the waning days of the year, bitcoin (BTC) hit six digits for the first time.

The cryptocurrency surged past the $100,000 mark early Thursday UTC time, mushrooming from zero value into a $2 trillion asset in a little over a decade and a half.

It’s a milestone that was difficult to imagine not long ago. Just two years ago, the entire cryptocurrency space was reeling from the cataclysmic implosions of FTX, Celsius and the Terra-Luna ecosystem. In the eyes of the general public, a toxic cloud hung over the whole industry. Bitcoin sank to around $15,000 and, to many mainstream observers, was wheezing in its final breaths.

Now, bitcoin has soared more than 500% from the desperate day

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Author: Krisztian Sandor, Helene Braun, James Van Straten, Benjamin Schiller