In 2024, the world witnessed a surge in global cryptocurrency adoption, with Bitcoin breaking price records and governments integrating crypto into their financial frameworks. This article highlights some of the most significant events that contributed to mainstream crypto adoption.
United States Eyes Strategic Bitcoin Reserve
The United States government is considering adopting Bitcoin as a savings technology under the incoming administration of President-elect Donald Trump. The Bitcoin Act, championed by Wyoming Senator Cynthia Lummis, proposes the creation of a strategic Bitcoin reserve. This proposal has gained significant support due to the incoming Republican Party Senate majority.
According to Anastasija Plotnikova, co-founder and CEO of Fideum, "State-level momentum is building, with initiatives such as Pennsylvania’s Bitcoin Strategic Reserve Act serving as a model for broader adoption." The idea of a strategic Bitcoin reserve has received bipartisan support, including from Democratic Representative Ro Khanna, who was the first Democratic lawmaker to back a Bitcoin reserve.
Europe Adopts MiCA Framework
The European Union’s Markets in Crypto-Assets Regulation (MiCA) became the first comprehensive crypto regulatory framework, setting a global benchmark. MiCA provides clear rules for stablecoin issuance, reserve management, and redemption, enhancing market stability and consumer protection.
A Binance spokesperson told Cointelegraph that MiCA’s framework may guide other jurisdictions: "By setting clear rules on issuance, reserve management, and redemption, MiCA enhances market stability and consumer protection, while also fostering innovation through legal certainty."
MiCA’s comprehensive approach will serve as a global benchmark for other jurisdictions looking to align their frameworks with MiCA for greater cross-border compatibility.
Bitcoin Adoption Grows in Latin America
El Salvador was the world’s first country to adopt Bitcoin as legal tender in 2021, resulting in over $31 million worth of profit on its 3rd Bitcoin adoption anniversary in 2024. El Salvador signed a mutual agreement with Argentina to help both countries strengthen their digital asset industries.
The Bitcoin-friendly nation is also discussing similar agreements with over 25 other countries. On Dec. 11, Juan Carlos Reyes, president of the National Commission of Digital Assets (NCDA) in El Salvador, announced the signing of a mutual collaboration and training agreement with Roberto Silva, president of Argentina’s National Securities Commission (CNV).
Speaking to Cointelegraph, Reyes said: "Argentina’s robust and innovative blockchain industry and El Salvador’s technological expertise will create a highly productive partnership." This partnership marks a significant milestone for Bitcoin adoption in Latin America.
Bhutan, Brazil, and US ETFs
Other notable Bitcoin adoption stories include September revelations that Bhutan’s government has been mining and holding BTC for over five years. The Bhutan government-labeled wallet held over $1.1 billion worth of BTC as of Dec. 14, according to Arkham Intelligence data.
El Salvador and Argentina aren’t the only significant crypto adopters in the Latam region. Four of the top 20 countries in terms of global crypto adoption are from Latin America, namely Brazil, Mexico, Venezuela, and Argentina.
LATAM countries by crypto value received:
| Rank | Country | Crypto Value Received |
| — | — | — |
| 1 | El Salvador | $1.4 billion |
| 2 | Brazil | $90.3 billion |
| 3 | Mexico | $43.5 billion |
| 4 | Venezuela | $24.8 billion |
Brazil is the second-largest Latin American country, having received over $90.3 billion worth of value through cryptocurrency in 2024, according to an Oct. 9 Chainalysis report.
US Bitcoin Exchange-Traded Funds Surpass Institutional Ownership
Notable adoption milestones include the US Bitcoin exchange-traded funds surpassing 27% in institutional ownership, major Swiss bank ZKB launching Bitcoin trading offerings, and the German government selling Bitcoin, netting over $2.8 billion in profit.
Bitcoin Poised for Further Adoption in 2025
While 2024 was considered a significant year for crypto adoption, market analysts are expecting another year of upside for Bitcoin’s price. Bitcoin seems poised for further adoption in 2025, fueled by bullish cycle top predictions ranging from $160,000 to above $180,000, according to asset management giant VanEck.
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