2024 has been nothing short of a blockbuster year for Bitcoin (BTCUSD) and the broader cryptocurrency market. Surging past the $100,000 mark, Bitcoin’s rally was fueled by transformative events that blurred the lines between crypto and the financial mainstream. The SEC’s approval of Bitcoin ETFs earlier in the year was a seismic shift, but the real fireworks came with President-elect Donald Trump’s appointment of crypto advocate Paul Atkins as SEC chair.
The incoming administration's pro-crypto stance, including plans for a Bitcoin reserve, self-custody of digital assets, and reduced government oversight, has brought digital assets to the forefront. Amid this crypto euphoria, MicroStrategy Incorporated (MSTR) has emerged as a clear beneficiary. Riding the bullish sentiment, its shares have skyrocketed 398% in the year to date, buoyed by its reputation as the largest corporate Bitcoin holder. In fact, the excitement reached new heights on the news of MSTR earning a coveted spot in the Nasdaq-100 index ($IUXX) beginning Dec. 23.
