I know, it's a big statement, but actually, the more I think about it, the more convinced I become: looking back, 2024 will be remembered as the watershed year for bitcoin, the year bitcoin transformed from a magical internet money to a real money. institutional investment and financial asset.
The evidence is overwhelming:
– technology/michigan-state-pension-fund-makes-66-million-bitcoin-etf-investment-2024-07-26/”>Pension funds and bitcoin-etf-rush-reporting-16m-holding-in-grayscale-vehicle/”>university endowments assigned to bitcoin.
– The long wait for a US bitcoin ETF is over.
– They bought Wall Street giants like BlackRock.
– Larry Fink changed his tune on bitcoin.
But above all, a prominent American presidential candidate said he would make bitcoin a monetary reserve asset. Now, read what I wrote again.
Of course, some bitcoin pioneers lament this institutionalization and cringe at the institutional embrace. Some say bitcoin is betraying its roots.
But for me, 2024 was the breakthrough year we had been waiting for for a long time. I got into bitcoin in 2016 and I feel like this year I finally crossed the abyss.
Sure, you can argue that bitcoin's survival of the 2013 Mt. Gox hack, or its survival of the 2017 Fork War, or even El Salvador's adoption of bitcoin as legal tender in 2021 were pivotal.
These were all great wins for our culture and industry. But this year we finally saw our enemies capitulate. As someone from India, I have long considered Washington and Wall Street to be the center of the global power structure.
I know the world will follow suit.
Therefore, it is reassuring to see Wall Street and Washington finally admitting the power of bitcoin and taking a knee. For many people around the world, it is the true sign that things are about to change.
This article is a Carry. The opinions expressed are entirely those of the author and do not necessarily reflect those of btc Inc or bitcoin Magazine.
