Bitcoin has shown remarkable performance in 2024, surpassing traditional assets such as crude oil, gold, and even the S&P 500 index. According to Bloomberg’s Chief Commodity Strategist, Mike McGlone, several factors have contributed to this impressive surge in Bitcoin's price.

Advancements in technology have played a significant role, making Bitcoin more accessible and appealing to investors. Additionally, rising geopolitical tensions across various regions have led to increased volatility in traditional markets, encouraging investors to seek alternative assets like Bitcoin.

Furthermore, a notable shift in global commodity dynamics has favored Bitcoin, as traditional assets struggle to cope with these changing times. As a result, Bitcoin continues to attract interest from both retail and institutional investors, leading to its prominent performance in 2024.