Despite the turbulence of geopolitical crises and looming economic uncertainties, 2024 proved to be a year of remarkable gains for investors in some of the world’s standout assets. Cryptocurrencies, tech giants, and traditional safe-haven investments saw substantial growth, making them the year’s top performers.
Tech Stocks Lead the Charge
Among the most notable performers were the United States’ tech giants, which powered a significant rally across global equity markets. The MSCI Inc. global stock gauge, which measures global stock performance, saw an overall increase of almost 16% over the course of the year, despite only three days of notable declines.
Central to this surge were the “Magnificent Seven” megacap tech companies—Alphabet Inc., Amazon.com Inc., Apple Inc., Meta Platforms Inc., Microsoft Corp., Nvidia Corp., and Tesla Inc. Notably, the index tracking these firms saw a staggering 67% rise, driven by the optimism surrounding artificial intelligence and a favorable economic environment in the US.
Nick Ferres, Chief Investment Officer at Vantage Point Asset Management, highlighted that the United States’ exceptional performance was a result of cooling inflation, a Federal Reserve interest rate reduction, and the global economy’s avoidance of a recession. Among these tech giants, Nvidia emerged as a standout, with a $10,000 investment at the beginning of the year ballooning to $27,117 by December.
Cryptocurrency Soars Amid Political Shifts
Another area that garnered investor attention was cryptocurrency, with Bitcoin achieving a notable 120% increase, reaching new heights above $100,000. This surge came in the wake of increased support from political figures, including US President-elect Donald Trump, who voiced his commitment to making the US a key player in the global crypto sector.
Bitcoin, despite some fluctuations, reached an all-time high of $108,316 before retreating slightly, leaving early investors with impressive returns. A $10,000 investment in Bitcoin would have been worth $22,046 by year-end.
Meme-favorite Dogecoin also made waves, skyrocketing by 253%, transforming a $10,000 wager into $35,345. These gains reflect growing optimism in the sector, which has found increasing legitimacy and support on the global stage.
Precious Metals Get a Boost
Gold, traditionally a safe-haven asset, also delivered impressive results in 2024, gaining 27%, the largest annual rise in 14 years. Amid rising global tensions and ongoing economic uncertainty, central banks, particularly in emerging markets like China, ramped up their gold purchases, contributing to the precious metal’s surge.
A $10,000 investment in gold at the start of the year would have appreciated to $12,722 by December. Silver, which typically follows gold’s trends, also saw gains, growing by 21% and turning a $10,000 investment into $12,146.
Argentina’s Stock Market Outshines Global Peers
In a surprise twist, Argentina’s S&P Merval Index topped the performance charts globally, driven by investor optimism about President Javier Milei’s policies aimed at curbing inflation and reducing budget deficits. A $10,000 investment in the Argentine index would have nearly doubled to $21,377, reflecting both the nation’s economic shift and the volatility of emerging markets.
Looking Ahead to 2025
As 2024 draws to a close, the question on many investors’ minds is whether the substantial gains made across these assets can be sustained in 2025. With global political and economic uncertainties likely to continue, the year ahead could see more volatility, especially as some markets brace for bigger swings.
However, for those who took on risk in 2024, the rewards were clear, as they navigated a year of unexpected growth in some of the most unpredictable sectors.
