2024: The Year Bitcoin Broke Through

Happy Monday Bitcoiners, it's Bam here with another Bitcoin update!

Each week, our team at Bitcoin News saves you time by curating the most impactful events into a concise, easy-to-read update.

Notable events this week include:

• Michael Saylor spotted at Mar-a-Lago.

• Tether increases its Bitcoin holdings to over $7.7 billion.

• Hong Kong eyes a Strategic Bitcoin Reserve amid economic turmoil.

Let’s dive in! ⚡

We’ve got you covered.
Azteco Bitcoin Vouchers are private!

LATEST NEWS 📰

🙌 ADOPTION

• Australia's Bitcoin ATM network expands to 1,359 machines over the last 29 months, now accounting for 3.5% of global Bitcoin ATMs and ranking third worldwide, behind Europe’s 1,660 machines.

• Merchants accepting Bitcoin, as cataloged by BTCMap, grew by 25% in 2024.

• Coinmetrics estimates that $6.6 trillion was transferred via the Bitcoin blockchain in 2024, averaging $210,000 per second.

⚖️ LEGAL

• Hong Kong legislator, Wu Jiezhuang, advocates leveraging China’s “one country, two systems” policy to include Bitcoin in the region’s national reserve, aiming to enhance financial security.

• Cambodia’s Central Bank approves stablecoins while maintaining a ban on Bitcoin.

• China is unleashing hundreds of billions in stimulus measures as its economy falls further into a deflationary tailspin.

📈 MARKETS

• MicroStrategy acquires an additional 2,138 BTC for $209 million and announces plans to raise up to $2 billion through a new type of stock, perpetual preferred stock, in Q1 2025.

• NYDIG is exploring HODL loans, leveraging insurance float to build a substantial Bitcoin-backed fiat lending market.

• Tether purchases 7,629 Bitcoin worth $705 million for its BTC reserve, bringing its total holdings to $7.7 billion.

⛏️ MINING

• Bitcoin's network hashrate surged by 56% in 2024, rising from 512 to 800 exahashes per second over the year.

• Home miner modifies diesel generator to convert used cooking oil into bitcoin.

• Cango Inc, a Chinese publicly traded company, now holds 933.8 Bitcoin worth $91 million. After shifting from an auto-trading platform last year, it boosted December Bitcoin mining by 56%, producing 569.9 BTC.

🗳️ POLITICS

• Eric Trump posts a picture of himself and Michael Saylor meeting at Mar-a-Lago, igniting further speculation of a Strategic Bitcoin Reserve under Trump.

• The Syrian Center for Economic Research publishes a proposal for the transitional government to legalize Bitcoin in Syria.

• A Swiss initiative to amend the constitution, allowing the Swiss National Bank to add Bitcoin to its reserves, has been published in the Federal Gazette and is now open for signatures.

BAMS 2 SATS 🧢

What an incredible 2024—and 2025 is already off to a strong start, with Bitcoin already up 5% YTD!

Sixteen years after Bitcoin’s creation, even mainstream outlets like Forbes are calling 2024 the year Bitcoin truly went mainstream.

It certainly feels that way. Not long ago, friends and acquaintances dismissed Bitcoin with claims like “It’ll be banned,” “No one uses it,” or “It’s backed by nothing”—often to justify not owning any.

Now, those arguments are losing ground. Rumors are swirling about a possible U.S. Strategic Bitcoin Reserve, potentially established on the new administration’s first day via executive order. Meanwhile, more nation-states are allocating government resources to mine Bitcoin, and some are considering it as a national strategy to bypass sanctions.

In short, it’s becoming rare to find anyone confidently criticizing Bitcoin. With so many now aware of it, those who haven’t taken the time to learn about it may already be feeling the consequences. They’re either rethinking their stance or willfully ignoring Bitcoin’s expanding network effect.

From a mainstream perspective, Bitcoin has evolved from being seen as merely a “hedge” against inflation to being touted as “the solution to inflation.” All it took was massive government money-printing, corporate adoption, and serious discussions about making Bitcoin a reserve asset.

It’s still not too late to front-run your own government. For both nations and individuals, the smartest move might be to adopt Bitcoin—just in case it catches on. ;)

Stay safe and keep on stacking!
Bam

Day One Bitcoin Strategic Reserve?

Michael Saylor’s visit to Mar-a-Lago set Bitcoin Twitter on fire.

Looking at the events of the past two months, it’s becoming evident that the market may be vastly underestimating just how bullish the Trump family—and the incoming administration—are on Bitcoin.

@bitcoinnewsdotcom

With Michael Saylor visiting the Trump compound, all signs are pointing to a day one Strategic Bitcoin Reserve