The Globe and Mail reports in its Wednesday edition that bitcoin more than doubled in 2024 driven by the U.S. Securities and Exchange Commission's approval for exchange-traded funds tied to its spot price, and optimism over Donald Trump's pro-crypto stand. A Reuters dispatch to The Globe says that bitcoin reached $100,000 earlier this month, sparking enthusiasm among its supporters. With over a 120-per-cent increase in bitcoin and nearly a 50% rise in ether this year, the sector's market value has climbed to $3.5-trillion, according to CoinGecko. Bernstein analysts say more gains are in store for 2025. MicroStrategy, a software firm that has become the world's largest corporate holder of bitcoin, has seen its shares surge nearly five-fold in 2024. Much of the optimism began in January when the SEC approved the first ETFs to track the spot price of bitcoin. The move gave the sector institutional legitimacy and improved its mainstream appeal. Most crypto stocks have also benefited from the industry-wide rally. The big winners of 2024 are MicroStrategy, Coinbase Global and bitcoin miner Hut 8. Several other crypto miners have reeled under shrinking margins due to higher energy and hardware costs, missing the year's rally.