|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
El Salvador Continues to Add More Bitcoins to Its Portfolio, Raising the Total to $349M
Sep 19, 2024 at 11:17 pm
Bukele's government has been buying one bitcoin every day since November 2022. This strategy has given a 49% return with an unrealized profit of $ 13.26 million.
El Salvador is continuing to add more bitcoin to its portfolio, bringing the total to $349 million. Bukele's government has been buying 1 BTC every day since November 2022, a strategy that has yielded a 49% return and an unrealized profit of $13.26 million. El Salvador now has 5,875 bitcoin, which are valued at $349 million at the current market price. On-chain data logs El Salvador's bitcoin purchases, and the last acquisition was made at a price of $61,000. This highlights the country's consistent effort to acquire bitcoin irrespective of the market conditions, showcasing their confidence in the asset. El Salvador stands out as the only nation to adopt bitcoin as a reserve currency, a move that President Bukele emphasizes is crucial for achieving the country's goal of financial sovereignty and reducing reliance on foreign debt. El Salvador to Reduce Dependence on Foreign Borrowing In a recent development, President Nayib Bukele announced that El Salvador will not seek external borrowing to fund its next budget. Instead, the country plans to utilize its bitcoin holdings and revenue from geothermal bitcoin mining to fuel economic growth. This marks a novel approach in financial management as El Salvador endeavors to minimize its foreign debt. Bukele's embrace of bitcoin is part of a broader strategy to render the nation's economy self-sufficient. In doing so, the country aims to improve its fiscal balance and channel more resources to national development, reflecting Bukele's long-term economic vision anchored on investing in bitcoin. The non-reliance on external debt has garnered attention globally. El Salvador's decision showcases the government's increasing conviction in bitcoin as a valuable currency for the nation's future. Bhutan Surpasses El Salvador's Holdings Bhutan now holds 13,029 BTC, significantly more than Central American nation El Salvador which boasts 5,875 BTC. The kingdom's holdings, valued at $758 million, constitute 25% of the country's GDP. These reserves were largely built through hydroelectric bitcoin mining undertaken by Bhutan's investment arm, Druk Holding. Bhutan commenced bitcoin mining in 2019, when 1 BTC was trading at $5,000. In 2023, the country partnered with Bitdeer to further expand its mining operations. Bhutan has immense potential in the mining sector, with plans to generate an additional 500MW by 2025.Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- BlockDAG Network: Currently the Talk of the Crypto World
- Sep 20, 2024 at 04:25 am
- BlockDAG is quickly proving to be more than just your standard layer 1 network. Thanks to its innovative DAG-based technology, it’s outstripping
-
- Memebet Token ($MEMEBET) Presale Skyrockets as the Project Prepares for Exchange Launch and Airdrop
- Sep 20, 2024 at 04:25 am
- The final week of September offers the last chance to participate in several major crypto airdrops, including Hamster Kombat, Catizen and Memebet Token, before the end of the month.
-
- Bitcoin Dogs Could be the Crypto World’s Best-Kept Secret
- Sep 20, 2024 at 04:25 am
- As the first-ever ICO on the Bitcoin network, this underdog has already made history. Everyone is making huge bets on BTC mooning during this cycle.
-
- GameStop (GME) CEO Ryan Cohen Settles With the Federal Trade Commission (FTC) Over Antitrust Violations
- Sep 20, 2024 at 04:25 am
- GameStop (GME) CEO Ryan Cohen has settled with the Federal Trade Commission (FTC) over antitrust violations.
-
- COIN to Perform at Byline Bank Aragon Ballroom in Celebration of New Album
- Sep 20, 2024 at 04:25 am
- Nashville-based band COIN consists of Chase Lawrence on lead vocals, Ryan Winnen on drums, and Joe Memmel on lead guitar. The members were introduced to each other in college in their music theory class.
-
- Bitcoin (BTC) Market Top Identification Guide By IonicXBT
- Sep 20, 2024 at 04:25 am
- As the crypto market gears up for a potential bull run in 2025, analyst IonicXBT has shared his comprehensive guide on how to identify the Bitcoin market top in this cycle.
-
- Beam (BEAM) and Mpeppe (MPEPE) Emerge as Market Contenders, Captivating Investors and Crypto Enthusiasts
- Sep 20, 2024 at 04:25 am
- The cryptocurrency market is always in flux, with tokens rising and falling in value at rapid speeds. Beam (BEAM) has recently shown strong upward momentum
-
- Beam (BEAM) and Mpeppe (MPEPE) Are Set to Explode in 2024, Offering Investors the Chance to Make 300x Profits
- Sep 20, 2024 at 04:25 am
- The world of cryptocurrency is constantly evolving, with new tokens and opportunities for massive gains emerging regularly. Recently, a top crypto trader has made headlines by leveraging both Beam (BEAM) and Mpeppe (MPEPE) to achieve significant profits.
-
- Nervos Network (CKB) Bulls Discover Mpeppe (MPEPE), a Gambling Token with Explosive Growth Potential
- Sep 20, 2024 at 04:25 am
- In the fast-paced world of cryptocurrency, finding the next big opportunity is key to staying ahead of the curve. Nervos Network (CKB) has long been a favorite among investors