Over $19 Trillion Were Transferred On Bitcoin Blockchain Last Year

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In 2024, over $19 trillion in transactions were settled on the Bitcoin network, more than double the $8.7 trillion from 2023 and reversing two years of declining transaction volumes since 2021.

Pierre Rochard, vice president of research at Riot Platforms, shared data showing that Bitcoin transaction volume peaked at around $47 trillion during the 2021 bull market before sharply declining in 2022 and 2023.

Rochard noted:

“The Bitcoin network finalized more than $19 trillion worth of BTC transactions in 2024, decisively proving that Bitcoin is both a store of value and a medium of exchange.”

The year 2024 was significant for Bitcoin, marked by the launch of a BTC exchange-traded fund (ETF) in the US, the April halving event, and a new all-time high of approximately $108,000.