HomeTechnologyBitcoin Enthusiasts Have Reasons to Be Optimistic In 2024

Bitcoin Enthusiasts Have Reasons to Be Optimistic In 2024

With the New Year around the corner, it’s time to start thinking about what lies ahead for Bitcoin. Bitcoin prices have reached their highest levels this year, and much of that favorable progress is due to investors anticipating the first U.S. Bitcoin-linked ETF, which could become a reality as soon as February 2024. There will most likely be growth in spending, and output will slow over the following year, so now would be an ideal time to invest. The best way to buy Bitcoin is through an exchange with a competitive fee structure and a user-friendly interface. This isn’t an attempt to lure you into anything. Do your homework and find out what works for you. 

Bitcoin will also undergo its next halving in 2024. The current lifecycle is roughly 91.34% complete, so it’s expected that the halving will occur on Friday, April 19. As the name suggests, the number of new coins will be reduced by half, and this reduced supply could result in lower inflation for Bitcoin.

As long as Bitcoin’s purchasing power continues to rise, fiat currencies will tend to compare to it; they’re stabler than cryptocurrencies, although they’re not entirely protected from devaluation. Should you decide to invest, seek financial advice and invest only what you can afford to lose. 

There are many reasons to be optimistic about the new year, so let’s look at the main drivers pointing to a positive outlook. 

The World Is Set to Witness the Largest Transfer of Wealth in Human History

$84 trillion in assets are bound to change hands over the next decades in what’s referred to as the largest transfer in wealth in human history. Members of the Silent Generation and Baby Boomers will leave their offspring approximately $72 trillion, while the rest will go to charity.

By and large, we could see increased interest in financial technology and investing based on values. The assets that Millennials and Gen Zens will inherit from their parents will serve as a capital infusion, supporting the vibrant innovation ecosystem. The Great Wealth Transfer will have consequences and effects for Bitcoin. 

Younger digital natives exhibit different investment behaviors, including a higher inclination towards Bitcoin and cryptocurrency. They’ve lived through a series of setbacks, of which mention can be made of high inflation and restrictive borrowing costs, so younger generations have lost their faith in traditional financial institutions and assets.

Countless surveys measuring cryptocurrency adoption have found that Millennials and Gen Zers have at least three times higher adoption/acceptance rates compared to Baby Boomers. The intergenerational transfer of wealth is in motion and is expected to bring about greater inflows in Bitcoin. 

FASB Will Adopt Fair-Value Accounting for Bitcoin

The FASB (Financial Accounting Standards Board) recently voted on a new cryptocurrency accounting and disclosure rule. To be more precise, Bitcoin and other digital assets will be reported at fair market value, which will more accurately reflect their financial standing.

Private and public companies, not to mention non-profit organizations, that hold Bitcoin on their balance sheet must report the assets at market value every financial year, having appropriate evidence for the audit report. Accountants can recognize gains and losses on the spot and treat cryptocurrencies as any other financial asset. 

This new guideline means that it’s possible to acknowledge unrealized gains instead of treating Bitcoin as an intangible asset and following the impairment model. Any change in a cryptocurrency’s perceived worth versus its purchase price is viewed as an unrealized gain/loss, which doesn’t affect you until you sell.

Businesses can improve the quality of their earnings from now on as their Bitcoin holdings appreciate, which makes the asset more attractive. It’s not necessary to sell Bitcoin to capture its value. Firms can better manage their exposure to the risks associated with cryptocurrencies, pinpointing potential losses and taking steps to mitigate them. 

The Satoshi Action Fund Will Pass Laws Protecting Bitcoin 

The Satoshi Action Fund is a non-profit educational organization committed to informing policymakers and regulators about the advantages of Bitcoin mining in the digital economy. Simply put, it paints Bitcoin mining positively, protecting data centers and miner operations. The Satoshi Action Fund is bound to pass pro-Bitcoin regulations in 2024, meeting with senators and representatives in support of proposed legislation.

Regulatory clarity will reduce or eliminate risk for people who buy Bitcoin, further cultivating innovation in the cryptocurrency industry. The lack of consistency among states makes investors more cautious or antagonistic. 

Ordinals Will No Longer Spam the Bitcoin Blockchain  

The Bitcoin ecosystem is expected to witness novel opportunities and growth in 2024, which is attributable to Ordinals, the equivalents of NFTs on the Bitcoin blockchain using Satoshis. ORDI, a token tied to the Ordinals protocol, was listed on Binance, with trading volumes jumping to millions in just 24 hours.

It’s poised for remarkable growth next year, given that its market cap has increased by 1,200%. As far as the Ordinals protocol is concerned, it poses some challenges in terms of block space occupation and complexity. One of the core developers of Bitcoin, Luke Dashjr, affirmed that Inscriptions were exploiting a vulnerability to spam the Bitcoin blockchain.

Bitcoin Ordinals don’t cause any material harm, and neither do they compromise Bitcoin’s security. Due to ordinary inscriptions, the Bitcoin NFT market is swiftly catching up to the top markets on other blockchains. Bitcoin is slowly but surely becoming the preferred platform, with Ordinals accounting for more than half of transactions.

By their inherent nature and owing to their increased popularity, Ordinals are a blessing in disguise, especially for miners who are apprehensive about the next halving. Miners could make more thanks to transaction fees. 


The proportion of rewards compared to the risks behind Bitcoin has never been more appealing. Bitcoin, the world’s first cryptocurrency and still the largest by market capitalization, will have a very good year, seeing exponential growth, so there’s a lot to look forward to. The future’s bright, the future’s orange. 

Hi, this is Arif Khan, Working as a full-time Editor at The teal mango Blog. With 5 years of experience as Content Editing Specialist and 4 years as Content Writer, together I got around 9 years of experience in this industry and I have worked with several niches including Tech, Entertainment, Sports and Fashion.


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