Interest in crypto soars, but case for investing in it still falls short
With no intrinsic value to back it up, crypto remains a risky investment, driven solely by sentiment and speculation
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2024 proved to be a transformative year for crypto. After years of resistance, the US Securities and Exchange Commission (SEC) approved 11 spot Bitcoin exchange-traded funds (ETFs) in January, boosting the asset’s legitimacy and accessibility.
Further bolstering the industry’s outlook, Donald Trump, former crypto critic turned advocate, was re-elected as US president. He has declared his ambition to make the US the “crypto capital of the planet” and has already taken steps to achieve that.
In addition to nominating former SEC commissioner and crypto advocate Paul Atkins to succeed crypto-critic Gary Gensler as the next SEC chair, he has also appointed venture capitalist David Sacks to the newly created role of “White House AI and crypto czar”.
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