As Bitcoin briefly surpassed $64,000, Salvadoran President Nayib Bukele expressed that current BTC holdings have yielded over 40% in profits, mocking those experts who doubted them and are now speechless.
(Summary:
Bitcoin President Bukele successfully reelected! El Salvador solidifies BTC fiatization path)
(Background:
El Salvador’s “1 billion Bitcoin volcano bond” set to launch in early 2024! To be issued through Bitfinex)
El Salvador, which considers Bitcoin as legal tender, has introduced a series of Bitcoin policies under the active promotion of President Bukele, including the development of wallets, a $1 billion Bitcoin bond, an investment citizenship program, and more.
President Bukele of El Salvador, with Bitcoin holdings currently yielding a 40% profit, will not sell!
Amidst Bitcoin’s surge of over 10% and briefly surpassing 64,000 today, Bukele took the opportunity to sarcastically criticize the media. He pointed out that when Bitcoin’s price was at its lowest, they reported many articles predicting losses for El Salvador, but now that the price has risen, they remain completely silent.
Kraken, a U.S. exchange and also a believer in Bitcoin, responded with, “You had a vision and stuck to it. Thank you for being a Bitcoin pioneer and accelerating adoption!”
In fact, this is not the first time Bukele has openly discussed the profitability of El Salvador’s Bitcoin holdings. In December of last year, when the price of Bitcoin briefly exceeded $42,400, he announced that El Salvador’s Bitcoin holdings had already made over $3.6 million in profits and emphasized their long-term investment strategy.
At the time, he also challenged the media, saying, “If they are true journalists, they should report the fact that we have achieved profits with the same intensity as they reported our losses.” Data from NayibTracker shows that the country currently holds 2,849 Bitcoins, with an average purchase cost of $42,504.71. The unrealized profits amount to $54.129 million, resulting in a floating profit of 44.7%.
MicroStrategy’s founder, Michael Saylor, shares the same stance as Bukele. He recently announced on the 26th that MicroStrategy had increased its Bitcoin holdings by 3,000 coins. In a recent interview with Bloomberg, when asked if he would sell Bitcoin for cash, he also expressed his unwavering faith.
Yesterday, Michael Saylor once again urged, “Do not sell your Bitcoin.”
Currently, MicroStrategy continues to hold the dominant position in Bitcoin holdings among publicly traded companies, with a total of 193,000 BTC and unrealized profits of $5.77 billion.
MicroStrategy’s total Bitcoin holdings of 1.93 million coins are more than 12 times that of the second-ranked mining company, Marathon. Source: Bitcoin Treasuries
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