Bitcoin Adoption Hits New Highs in 2024, Promises More Growth in 2025 and Beyond

Bitcoin adoption reached new heights in 2024, with several developments contributing to the cryptocurrency's increasing presence.

Here's a summary of some recent Bitcoin-related news and what it could mean for the future of crypto adoption:

Bhutan administrative region adopts Bitcoin

A special administrative region in Bhutan, called Gelephu Mindfulness City (GMC), has reportedly adopted Bitcoin as a strategic reserve asset.

Additionally, GMC has created a crypto assets framework, according to reports.

Bhutan previously made headlines for venturing into Bitcoin mining, and this latest move by GMC sees the city's government now holding and trading BTC.

The move follows El Salvador's adoption of Bitcoin as a legal tender, underscoring a trend that may continue.

Phuket, Thailand to accept Bitcoin for payments

Bitcoin adoption isn't just about institutions holding the asset; it's also about people being able to use it for everyday spending.

Phuket city in Thailand is embracing crypto in a bid to boost tourism, with the Asian city reportedly piloting a program to accept Bitcoin payments.

The country's Prime Minister announced the pilot program, and if successful, crypto payments could expand to other areas in Thailand, making it a hot destination for crypto owners.

Thailand joins a growing list of countries that have embraced crypto tourism, with some of the other countries on the list including UAE, El Salvador, Japan, Malta, Switzerland and Portugal.

More countries could potentially jump on this trend in the future, but one of the biggest limitations behind the adoption of Bitcoin for payments in most countries is restrictive regulations.

However, this will likely change once the U.S offers regulatory clarity, as most countries follow in its footsteps as the country that controls the global reserve currency.

Moreover, cracks in the traditional finance system could escalate Bitcoin adoption.

South Korea to allow institutional crypto trading

South Korea is one of the largest jurisdictions when it comes to crypto adoption and trading, and it was recently voted as one of the countries that could adopt Bitcoin national reserves sometime soon.

Now, South Korea may be opening the flood gates of institutional liquidity into crypto.

The Asian country is reportedly planning to allow institutions to trade cryptocurrencies.

This means South Korean companies such as Samsung, LG Electronics and many others will be able to trade assets like Bitcoin.

This underscores the potential for more institutional liquidity to enter into Bitcoin since it is the most attractive asset in its class.

While these developments may not contribute to demand immediately, they highlight more incoming liquidity in 202мпер институциональной ликвидности, входящей в Bitcoin, поскольку он является самым привлекательным активом в своем классе.

Хотя эти события могут не способствовать спросу немедленно, они подчеркивают больше входящей ликвидности в 2025 году. Потенциально спрос на Bitcoin может быть выше в этом году, чем в 2024 году, благодаря всем про-BTC событиям.

Тем не менее, несмотря на растущий оптимизм и принятие, краткосрочная активность Bitcoin все еще может привести к краткосрочному давлению продаж.

Его последняя производительность указывает на то, что он остывает от своего сильно изменчивого состояния, наблюдаемого в четвертом квартале 2024 года.5, potentially setting the stage for higher Bitcoin demand this year.