\n
With a firm crackdown on the nation's notorious gangs, the murder rate has plummeted, leading Bukele to hope for an influx of expatriates and a reduction in the number of Salvadorans heading north to the United States.<\/p>\n\n\n\n
With a firm crackdown on the nation's notorious gangs, the murder rate has plummeted, leading Bukele to hope for an influx of expatriates and a reduction in the number of Salvadorans heading north to the United States.<\/p>\n\n\n\n
Before Bukele assumed the presidency, El Salvador was primarily known for its surfing, a history of civil conflict, and gang-related violence. Under his leadership, efforts have been made to transform it into a technology hub, attracting foreign, including Chinese, investment.<\/p>\n\n\n\n
With a firm crackdown on the nation's notorious gangs, the murder rate has plummeted, leading Bukele to hope for an influx of expatriates and a reduction in the number of Salvadorans heading north to the United States.<\/p>\n\n\n\n
However, despite these improvements in the country's security, Bitcoin<\/a> remains a contentious issue. If Bukele's Bitcoin bet eventually turns profitable, he might need to convince his citizens of its benefits.<\/p>\n","post_title":"El Salvador's President Nayib Bukele Faces 8% Loss On Bitcoin Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvadors-president-nayib-bukele-faces-8-loss-on-bitcoin-investment","to_ping":"","pinged":"","post_modified":"2023-11-25 20:23:24","post_modified_gmt":"2023-11-25 09:23:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14495","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
While he has some way to go before turning a profit, it's not all negative news for El Salvador. The country was on the verge of defaulting on its significant national debts last year, but its bonds have since delivered substantial returns to investors.<\/p>\n\n\n\n Before Bukele assumed the presidency, El Salvador was primarily known for its surfing, a history of civil conflict, and gang-related violence. Under his leadership, efforts have been made to transform it into a technology hub, attracting foreign, including Chinese, investment.<\/p>\n\n\n\n With a firm crackdown on the nation's notorious gangs, the murder rate has plummeted, leading Bukele to hope for an influx of expatriates and a reduction in the number of Salvadorans heading north to the United States.<\/p>\n\n\n\n However, despite these improvements in the country's security, Bitcoin<\/a> remains a contentious issue. If Bukele's Bitcoin bet eventually turns profitable, he might need to convince his citizens of its benefits.<\/p>\n","post_title":"El Salvador's President Nayib Bukele Faces 8% Loss On Bitcoin Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvadors-president-nayib-bukele-faces-8-loss-on-bitcoin-investment","to_ping":"","pinged":"","post_modified":"2023-11-25 20:23:24","post_modified_gmt":"2023-11-25 09:23:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14495","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
While he has some way to go before turning a profit, it's not all negative news for El Salvador. The country was on the verge of defaulting on its significant national debts last year, but its bonds have since delivered substantial returns to investors.<\/p>\n\n\n\n Before Bukele assumed the presidency, El Salvador was primarily known for its surfing, a history of civil conflict, and gang-related violence. Under his leadership, efforts have been made to transform it into a technology hub, attracting foreign, including Chinese, investment.<\/p>\n\n\n\n With a firm crackdown on the nation's notorious gangs, the murder rate has plummeted, leading Bukele to hope for an influx of expatriates and a reduction in the number of Salvadorans heading north to the United States.<\/p>\n\n\n\n However, despite these improvements in the country's security, Bitcoin<\/a> remains a contentious issue. If Bukele's Bitcoin bet eventually turns profitable, he might need to convince his citizens of its benefits.<\/p>\n","post_title":"El Salvador's President Nayib Bukele Faces 8% Loss On Bitcoin Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvadors-president-nayib-bukele-faces-8-loss-on-bitcoin-investment","to_ping":"","pinged":"","post_modified":"2023-11-25 20:23:24","post_modified_gmt":"2023-11-25 09:23:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14495","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
See Related:<\/em><\/strong> El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n While he has some way to go before turning a profit, it's not all negative news for El Salvador. The country was on the verge of defaulting on its significant national debts last year, but its bonds have since delivered substantial returns to investors.<\/p>\n\n\n\n Before Bukele assumed the presidency, El Salvador was primarily known for its surfing, a history of civil conflict, and gang-related violence. Under his leadership, efforts have been made to transform it into a technology hub, attracting foreign, including Chinese, investment.<\/p>\n\n\n\n With a firm crackdown on the nation's notorious gangs, the murder rate has plummeted, leading Bukele to hope for an influx of expatriates and a reduction in the number of Salvadorans heading north to the United States.<\/p>\n\n\n\n However, despite these improvements in the country's security, Bitcoin<\/a> remains a contentious issue. If Bukele's Bitcoin bet eventually turns profitable, he might need to convince his citizens of its benefits.<\/p>\n","post_title":"El Salvador's President Nayib Bukele Faces 8% Loss On Bitcoin Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvadors-president-nayib-bukele-faces-8-loss-on-bitcoin-investment","to_ping":"","pinged":"","post_modified":"2023-11-25 20:23:24","post_modified_gmt":"2023-11-25 09:23:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14495","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
It's worth noting that all the BTC he acquired was purchased at prices below the cryptocurrency's all-time high in November 2021, with the costliest batch being 420 coins acquired at $60,345 each.<\/p>\n\n\n\n See Related:<\/em><\/strong> El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n While he has some way to go before turning a profit, it's not all negative news for El Salvador. The country was on the verge of defaulting on its significant national debts last year, but its bonds have since delivered substantial returns to investors.<\/p>\n\n\n\n Before Bukele assumed the presidency, El Salvador was primarily known for its surfing, a history of civil conflict, and gang-related violence. Under his leadership, efforts have been made to transform it into a technology hub, attracting foreign, including Chinese, investment.<\/p>\n\n\n\n With a firm crackdown on the nation's notorious gangs, the murder rate has plummeted, leading Bukele to hope for an influx of expatriates and a reduction in the number of Salvadorans heading north to the United States.<\/p>\n\n\n\n However, despite these improvements in the country's security, Bitcoin<\/a> remains a contentious issue. If Bukele's Bitcoin bet eventually turns profitable, he might need to convince his citizens of its benefits.<\/p>\n","post_title":"El Salvador's President Nayib Bukele Faces 8% Loss On Bitcoin Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvadors-president-nayib-bukele-faces-8-loss-on-bitcoin-investment","to_ping":"","pinged":"","post_modified":"2023-11-25 20:23:24","post_modified_gmt":"2023-11-25 09:23:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14495","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
In total, he spent over $126 million on Bitcoin, which is currently valued at $116 million. This means he's incurred a loss of over $10 million, nearly 8% below his initial investment.<\/p>\n\n\n\n It's worth noting that all the BTC he acquired was purchased at prices below the cryptocurrency's all-time high in November 2021, with the costliest batch being 420 coins acquired at $60,345 each.<\/p>\n\n\n\n See Related:<\/em><\/strong> El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n While he has some way to go before turning a profit, it's not all negative news for El Salvador. The country was on the verge of defaulting on its significant national debts last year, but its bonds have since delivered substantial returns to investors.<\/p>\n\n\n\n Before Bukele assumed the presidency, El Salvador was primarily known for its surfing, a history of civil conflict, and gang-related violence. Under his leadership, efforts have been made to transform it into a technology hub, attracting foreign, including Chinese, investment.<\/p>\n\n\n\n With a firm crackdown on the nation's notorious gangs, the murder rate has plummeted, leading Bukele to hope for an influx of expatriates and a reduction in the number of Salvadorans heading north to the United States.<\/p>\n\n\n\n However, despite these improvements in the country's security, Bitcoin<\/a> remains a contentious issue. If Bukele's Bitcoin bet eventually turns profitable, he might need to convince his citizens of its benefits.<\/p>\n","post_title":"El Salvador's President Nayib Bukele Faces 8% Loss On Bitcoin Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvadors-president-nayib-bukele-faces-8-loss-on-bitcoin-investment","to_ping":"","pinged":"","post_modified":"2023-11-25 20:23:24","post_modified_gmt":"2023-11-25 09:23:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14495","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
According to the data, the average price at which El Salvador acquired BTC now stands at $40,498 per coin.<\/p>\n\n\n\n In total, he spent over $126 million on Bitcoin, which is currently valued at $116 million. This means he's incurred a loss of over $10 million, nearly 8% below his initial investment.<\/p>\n\n\n\n It's worth noting that all the BTC he acquired was purchased at prices below the cryptocurrency's all-time high in November 2021, with the costliest batch being 420 coins acquired at $60,345 each.<\/p>\n\n\n\n See Related:<\/em><\/strong> El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n While he has some way to go before turning a profit, it's not all negative news for El Salvador. The country was on the verge of defaulting on its significant national debts last year, but its bonds have since delivered substantial returns to investors.<\/p>\n\n\n\n Before Bukele assumed the presidency, El Salvador was primarily known for its surfing, a history of civil conflict, and gang-related violence. Under his leadership, efforts have been made to transform it into a technology hub, attracting foreign, including Chinese, investment.<\/p>\n\n\n\n With a firm crackdown on the nation's notorious gangs, the murder rate has plummeted, leading Bukele to hope for an influx of expatriates and a reduction in the number of Salvadorans heading north to the United States.<\/p>\n\n\n\n However, despite these improvements in the country's security, Bitcoin<\/a> remains a contentious issue. If Bukele's Bitcoin bet eventually turns profitable, he might need to convince his citizens of its benefits.<\/p>\n","post_title":"El Salvador's President Nayib Bukele Faces 8% Loss On Bitcoin Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvadors-president-nayib-bukele-faces-8-loss-on-bitcoin-investment","to_ping":"","pinged":"","post_modified":"2023-11-25 20:23:24","post_modified_gmt":"2023-11-25 09:23:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14495","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The NayibTracker<\/a> website, which relies on the president's tweets to track his Bitcoin purchases, has calculated that Bukele is currently facing an approximately 8% loss on his investment of 3,120 BTC.<\/p>\n\n\n\n According to the data, the average price at which El Salvador acquired BTC now stands at $40,498 per coin.<\/p>\n\n\n\n In total, he spent over $126 million on Bitcoin, which is currently valued at $116 million. This means he's incurred a loss of over $10 million, nearly 8% below his initial investment.<\/p>\n\n\n\n It's worth noting that all the BTC he acquired was purchased at prices below the cryptocurrency's all-time high in November 2021, with the costliest batch being 420 coins acquired at $60,345 each.<\/p>\n\n\n\n See Related:<\/em><\/strong> El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n While he has some way to go before turning a profit, it's not all negative news for El Salvador. The country was on the verge of defaulting on its significant national debts last year, but its bonds have since delivered substantial returns to investors.<\/p>\n\n\n\n Before Bukele assumed the presidency, El Salvador was primarily known for its surfing, a history of civil conflict, and gang-related violence. Under his leadership, efforts have been made to transform it into a technology hub, attracting foreign, including Chinese, investment.<\/p>\n\n\n\n With a firm crackdown on the nation's notorious gangs, the murder rate has plummeted, leading Bukele to hope for an influx of expatriates and a reduction in the number of Salvadorans heading north to the United States.<\/p>\n\n\n\n However, despite these improvements in the country's security, Bitcoin<\/a> remains a contentious issue. If Bukele's Bitcoin bet eventually turns profitable, he might need to convince his citizens of its benefits.<\/p>\n","post_title":"El Salvador's President Nayib Bukele Faces 8% Loss On Bitcoin Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvadors-president-nayib-bukele-faces-8-loss-on-bitcoin-investment","to_ping":"","pinged":"","post_modified":"2023-11-25 20:23:24","post_modified_gmt":"2023-11-25 09:23:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14495","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
But what has been the actual performance of this investment?<\/p>\n\n\n\n The NayibTracker<\/a> website, which relies on the president's tweets to track his Bitcoin purchases, has calculated that Bukele is currently facing an approximately 8% loss on his investment of 3,120 BTC.<\/p>\n\n\n\n According to the data, the average price at which El Salvador acquired BTC now stands at $40,498 per coin.<\/p>\n\n\n\n In total, he spent over $126 million on Bitcoin, which is currently valued at $116 million. This means he's incurred a loss of over $10 million, nearly 8% below his initial investment.<\/p>\n\n\n\n It's worth noting that all the BTC he acquired was purchased at prices below the cryptocurrency's all-time high in November 2021, with the costliest batch being 420 coins acquired at $60,345 each.<\/p>\n\n\n\n See Related:<\/em><\/strong> El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n While he has some way to go before turning a profit, it's not all negative news for El Salvador. The country was on the verge of defaulting on its significant national debts last year, but its bonds have since delivered substantial returns to investors.<\/p>\n\n\n\n Before Bukele assumed the presidency, El Salvador was primarily known for its surfing, a history of civil conflict, and gang-related violence. Under his leadership, efforts have been made to transform it into a technology hub, attracting foreign, including Chinese, investment.<\/p>\n\n\n\n With a firm crackdown on the nation's notorious gangs, the murder rate has plummeted, leading Bukele to hope for an influx of expatriates and a reduction in the number of Salvadorans heading north to the United States.<\/p>\n\n\n\n However, despite these improvements in the country's security, Bitcoin<\/a> remains a contentious issue. If Bukele's Bitcoin bet eventually turns profitable, he might need to convince his citizens of its benefits.<\/p>\n","post_title":"El Salvador's President Nayib Bukele Faces 8% Loss On Bitcoin Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvadors-president-nayib-bukele-faces-8-loss-on-bitcoin-investment","to_ping":"","pinged":"","post_modified":"2023-11-25 20:23:24","post_modified_gmt":"2023-11-25 09:23:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14495","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
El Salvador's president, Nayib Bukele, was a strong supporter of Bitcoin during the 2021 bull market. He declared in November 2022 that the nation would add one Bitcoin daily to its growing reserve. However, critics, ranging from university professors to U.S. lawmakers, have labeled his approach as reckless.<\/p>\n\n\n\n But what has been the actual performance of this investment?<\/p>\n\n\n\n The NayibTracker<\/a> website, which relies on the president's tweets to track his Bitcoin purchases, has calculated that Bukele is currently facing an approximately 8% loss on his investment of 3,120 BTC.<\/p>\n\n\n\n According to the data, the average price at which El Salvador acquired BTC now stands at $40,498 per coin.<\/p>\n\n\n\n In total, he spent over $126 million on Bitcoin, which is currently valued at $116 million. This means he's incurred a loss of over $10 million, nearly 8% below his initial investment.<\/p>\n\n\n\n It's worth noting that all the BTC he acquired was purchased at prices below the cryptocurrency's all-time high in November 2021, with the costliest batch being 420 coins acquired at $60,345 each.<\/p>\n\n\n\n See Related:<\/em><\/strong> El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n While he has some way to go before turning a profit, it's not all negative news for El Salvador. The country was on the verge of defaulting on its significant national debts last year, but its bonds have since delivered substantial returns to investors.<\/p>\n\n\n\n Before Bukele assumed the presidency, El Salvador was primarily known for its surfing, a history of civil conflict, and gang-related violence. Under his leadership, efforts have been made to transform it into a technology hub, attracting foreign, including Chinese, investment.<\/p>\n\n\n\n With a firm crackdown on the nation's notorious gangs, the murder rate has plummeted, leading Bukele to hope for an influx of expatriates and a reduction in the number of Salvadorans heading north to the United States.<\/p>\n\n\n\n However, despite these improvements in the country's security, Bitcoin<\/a> remains a contentious issue. If Bukele's Bitcoin bet eventually turns profitable, he might need to convince his citizens of its benefits.<\/p>\n","post_title":"El Salvador's President Nayib Bukele Faces 8% Loss On Bitcoin Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvadors-president-nayib-bukele-faces-8-loss-on-bitcoin-investment","to_ping":"","pinged":"","post_modified":"2023-11-25 20:23:24","post_modified_gmt":"2023-11-25 09:23:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14495","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Today, MicroStrategy holds approximately 0.75% of Bitcoin's total circulating supply, firmly establishing itself as a significant institutional player in the cryptocurrency market.<\/p>\n","post_title":"MicroStrategy's Stock Surges Past $500, Riding High On Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-stock-surges-past-500-riding-high-on-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2023-11-25 20:52:31","post_modified_gmt":"2023-11-25 09:52:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14504","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14495,"post_author":"15","post_date":"2023-11-25 20:23:18","post_date_gmt":"2023-11-25 09:23:18","post_content":"\n El Salvador's president, Nayib Bukele, was a strong supporter of Bitcoin during the 2021 bull market. He declared in November 2022 that the nation would add one Bitcoin daily to its growing reserve. However, critics, ranging from university professors to U.S. lawmakers, have labeled his approach as reckless.<\/p>\n\n\n\n But what has been the actual performance of this investment?<\/p>\n\n\n\n The NayibTracker<\/a> website, which relies on the president's tweets to track his Bitcoin purchases, has calculated that Bukele is currently facing an approximately 8% loss on his investment of 3,120 BTC.<\/p>\n\n\n\n According to the data, the average price at which El Salvador acquired BTC now stands at $40,498 per coin.<\/p>\n\n\n\n In total, he spent over $126 million on Bitcoin, which is currently valued at $116 million. This means he's incurred a loss of over $10 million, nearly 8% below his initial investment.<\/p>\n\n\n\n It's worth noting that all the BTC he acquired was purchased at prices below the cryptocurrency's all-time high in November 2021, with the costliest batch being 420 coins acquired at $60,345 each.<\/p>\n\n\n\n See Related:<\/em><\/strong> El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n While he has some way to go before turning a profit, it's not all negative news for El Salvador. The country was on the verge of defaulting on its significant national debts last year, but its bonds have since delivered substantial returns to investors.<\/p>\n\n\n\n Before Bukele assumed the presidency, El Salvador was primarily known for its surfing, a history of civil conflict, and gang-related violence. Under his leadership, efforts have been made to transform it into a technology hub, attracting foreign, including Chinese, investment.<\/p>\n\n\n\n With a firm crackdown on the nation's notorious gangs, the murder rate has plummeted, leading Bukele to hope for an influx of expatriates and a reduction in the number of Salvadorans heading north to the United States.<\/p>\n\n\n\n However, despite these improvements in the country's security, Bitcoin<\/a> remains a contentious issue. If Bukele's Bitcoin bet eventually turns profitable, he might need to convince his citizens of its benefits.<\/p>\n","post_title":"El Salvador's President Nayib Bukele Faces 8% Loss On Bitcoin Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvadors-president-nayib-bukele-faces-8-loss-on-bitcoin-investment","to_ping":"","pinged":"","post_modified":"2023-11-25 20:23:24","post_modified_gmt":"2023-11-25 09:23:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14495","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Despite a net loss of $143.4 million in its most recent quarterly report released in early November (a larger loss than the $27 million reported the previous year), MicroStrategy continued its Bitcoin acquisitions<\/a>, adding another 6,067 Bitcoins for $167 million.<\/p>\n\n\n\n Today, MicroStrategy holds approximately 0.75% of Bitcoin's total circulating supply, firmly establishing itself as a significant institutional player in the cryptocurrency market.<\/p>\n","post_title":"MicroStrategy's Stock Surges Past $500, Riding High On Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-stock-surges-past-500-riding-high-on-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2023-11-25 20:52:31","post_modified_gmt":"2023-11-25 09:52:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14504","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14495,"post_author":"15","post_date":"2023-11-25 20:23:18","post_date_gmt":"2023-11-25 09:23:18","post_content":"\n El Salvador's president, Nayib Bukele, was a strong supporter of Bitcoin during the 2021 bull market. He declared in November 2022 that the nation would add one Bitcoin daily to its growing reserve. However, critics, ranging from university professors to U.S. lawmakers, have labeled his approach as reckless.<\/p>\n\n\n\n But what has been the actual performance of this investment?<\/p>\n\n\n\n The NayibTracker<\/a> website, which relies on the president's tweets to track his Bitcoin purchases, has calculated that Bukele is currently facing an approximately 8% loss on his investment of 3,120 BTC.<\/p>\n\n\n\n According to the data, the average price at which El Salvador acquired BTC now stands at $40,498 per coin.<\/p>\n\n\n\n In total, he spent over $126 million on Bitcoin, which is currently valued at $116 million. This means he's incurred a loss of over $10 million, nearly 8% below his initial investment.<\/p>\n\n\n\n It's worth noting that all the BTC he acquired was purchased at prices below the cryptocurrency's all-time high in November 2021, with the costliest batch being 420 coins acquired at $60,345 each.<\/p>\n\n\n\n See Related:<\/em><\/strong> El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n While he has some way to go before turning a profit, it's not all negative news for El Salvador. The country was on the verge of defaulting on its significant national debts last year, but its bonds have since delivered substantial returns to investors.<\/p>\n\n\n\n Before Bukele assumed the presidency, El Salvador was primarily known for its surfing, a history of civil conflict, and gang-related violence. Under his leadership, efforts have been made to transform it into a technology hub, attracting foreign, including Chinese, investment.<\/p>\n\n\n\n With a firm crackdown on the nation's notorious gangs, the murder rate has plummeted, leading Bukele to hope for an influx of expatriates and a reduction in the number of Salvadorans heading north to the United States.<\/p>\n\n\n\n However, despite these improvements in the country's security, Bitcoin<\/a> remains a contentious issue. If Bukele's Bitcoin bet eventually turns profitable, he might need to convince his citizens of its benefits.<\/p>\n","post_title":"El Salvador's President Nayib Bukele Faces 8% Loss On Bitcoin Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvadors-president-nayib-bukele-faces-8-loss-on-bitcoin-investment","to_ping":"","pinged":"","post_modified":"2023-11-25 20:23:24","post_modified_gmt":"2023-11-25 09:23:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14495","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The company reported a $24 million Bitcoin impairment charge in its second-quarter earnings report. But it returned to be profitable as a whole. MicroStrategy continued its BTC purchases<\/a>, accumulating 152,800 coins valued at around $4.4 billion.<\/p>\n\n\n\n Despite a net loss of $143.4 million in its most recent quarterly report released in early November (a larger loss than the $27 million reported the previous year), MicroStrategy continued its Bitcoin acquisitions<\/a>, adding another 6,067 Bitcoins for $167 million.<\/p>\n\n\n\n Today, MicroStrategy holds approximately 0.75% of Bitcoin's total circulating supply, firmly establishing itself as a significant institutional player in the cryptocurrency market.<\/p>\n","post_title":"MicroStrategy's Stock Surges Past $500, Riding High On Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-stock-surges-past-500-riding-high-on-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2023-11-25 20:52:31","post_modified_gmt":"2023-11-25 09:52:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14504","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14495,"post_author":"15","post_date":"2023-11-25 20:23:18","post_date_gmt":"2023-11-25 09:23:18","post_content":"\n El Salvador's president, Nayib Bukele, was a strong supporter of Bitcoin during the 2021 bull market. He declared in November 2022 that the nation would add one Bitcoin daily to its growing reserve. However, critics, ranging from university professors to U.S. lawmakers, have labeled his approach as reckless.<\/p>\n\n\n\n But what has been the actual performance of this investment?<\/p>\n\n\n\n The NayibTracker<\/a> website, which relies on the president's tweets to track his Bitcoin purchases, has calculated that Bukele is currently facing an approximately 8% loss on his investment of 3,120 BTC.<\/p>\n\n\n\n According to the data, the average price at which El Salvador acquired BTC now stands at $40,498 per coin.<\/p>\n\n\n\n In total, he spent over $126 million on Bitcoin, which is currently valued at $116 million. This means he's incurred a loss of over $10 million, nearly 8% below his initial investment.<\/p>\n\n\n\n It's worth noting that all the BTC he acquired was purchased at prices below the cryptocurrency's all-time high in November 2021, with the costliest batch being 420 coins acquired at $60,345 each.<\/p>\n\n\n\n See Related:<\/em><\/strong> El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n While he has some way to go before turning a profit, it's not all negative news for El Salvador. The country was on the verge of defaulting on its significant national debts last year, but its bonds have since delivered substantial returns to investors.<\/p>\n\n\n\n Before Bukele assumed the presidency, El Salvador was primarily known for its surfing, a history of civil conflict, and gang-related violence. Under his leadership, efforts have been made to transform it into a technology hub, attracting foreign, including Chinese, investment.<\/p>\n\n\n\n With a firm crackdown on the nation's notorious gangs, the murder rate has plummeted, leading Bukele to hope for an influx of expatriates and a reduction in the number of Salvadorans heading north to the United States.<\/p>\n\n\n\n However, despite these improvements in the country's security, Bitcoin<\/a> remains a contentious issue. If Bukele's Bitcoin bet eventually turns profitable, he might need to convince his citizens of its benefits.<\/p>\n","post_title":"El Salvador's President Nayib Bukele Faces 8% Loss On Bitcoin Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvadors-president-nayib-bukele-faces-8-loss-on-bitcoin-investment","to_ping":"","pinged":"","post_modified":"2023-11-25 20:23:24","post_modified_gmt":"2023-11-25 09:23:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14495","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The positive news continued as, by April, MicroStrategy's Bitcoin holdings turned profitable. With the acquisition <\/a>of an additional 1,045 Bitcoins, increasing its total holdings to 140,000 Bitcoins. The average purchase price dropped to $29,803 per coin, with a total digital asset value exceeding $4 billion.<\/p>\n\n\n\n The company reported a $24 million Bitcoin impairment charge in its second-quarter earnings report. But it returned to be profitable as a whole. MicroStrategy continued its BTC purchases<\/a>, accumulating 152,800 coins valued at around $4.4 billion.<\/p>\n\n\n\n Despite a net loss of $143.4 million in its most recent quarterly report released in early November (a larger loss than the $27 million reported the previous year), MicroStrategy continued its Bitcoin acquisitions<\/a>, adding another 6,067 Bitcoins for $167 million.<\/p>\n\n\n\n Today, MicroStrategy holds approximately 0.75% of Bitcoin's total circulating supply, firmly establishing itself as a significant institutional player in the cryptocurrency market.<\/p>\n","post_title":"MicroStrategy's Stock Surges Past $500, Riding High On Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-stock-surges-past-500-riding-high-on-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2023-11-25 20:52:31","post_modified_gmt":"2023-11-25 09:52:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14504","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14495,"post_author":"15","post_date":"2023-11-25 20:23:18","post_date_gmt":"2023-11-25 09:23:18","post_content":"\n El Salvador's president, Nayib Bukele, was a strong supporter of Bitcoin during the 2021 bull market. He declared in November 2022 that the nation would add one Bitcoin daily to its growing reserve. However, critics, ranging from university professors to U.S. lawmakers, have labeled his approach as reckless.<\/p>\n\n\n\n But what has been the actual performance of this investment?<\/p>\n\n\n\n The NayibTracker<\/a> website, which relies on the president's tweets to track his Bitcoin purchases, has calculated that Bukele is currently facing an approximately 8% loss on his investment of 3,120 BTC.<\/p>\n\n\n\n According to the data, the average price at which El Salvador acquired BTC now stands at $40,498 per coin.<\/p>\n\n\n\n In total, he spent over $126 million on Bitcoin, which is currently valued at $116 million. This means he's incurred a loss of over $10 million, nearly 8% below his initial investment.<\/p>\n\n\n\n It's worth noting that all the BTC he acquired was purchased at prices below the cryptocurrency's all-time high in November 2021, with the costliest batch being 420 coins acquired at $60,345 each.<\/p>\n\n\n\n See Related:<\/em><\/strong> El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n While he has some way to go before turning a profit, it's not all negative news for El Salvador. The country was on the verge of defaulting on its significant national debts last year, but its bonds have since delivered substantial returns to investors.<\/p>\n\n\n\n Before Bukele assumed the presidency, El Salvador was primarily known for its surfing, a history of civil conflict, and gang-related violence. Under his leadership, efforts have been made to transform it into a technology hub, attracting foreign, including Chinese, investment.<\/p>\n\n\n\n With a firm crackdown on the nation's notorious gangs, the murder rate has plummeted, leading Bukele to hope for an influx of expatriates and a reduction in the number of Salvadorans heading north to the United States.<\/p>\n\n\n\n However, despite these improvements in the country's security, Bitcoin<\/a> remains a contentious issue. If Bukele's Bitcoin bet eventually turns profitable, he might need to convince his citizens of its benefits.<\/p>\n","post_title":"El Salvador's President Nayib Bukele Faces 8% Loss On Bitcoin Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvadors-president-nayib-bukele-faces-8-loss-on-bitcoin-investment","to_ping":"","pinged":"","post_modified":"2023-11-25 20:23:24","post_modified_gmt":"2023-11-25 09:23:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14495","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The positive news continued as, by April, MicroStrategy's Bitcoin holdings turned profitable. With the acquisition <\/a>of an additional 1,045 Bitcoins, increasing its total holdings to 140,000 Bitcoins. The average purchase price dropped to $29,803 per coin, with a total digital asset value exceeding $4 billion.<\/p>\n\n\n\n The company reported a $24 million Bitcoin impairment charge in its second-quarter earnings report. But it returned to be profitable as a whole. MicroStrategy continued its BTC purchases<\/a>, accumulating 152,800 coins valued at around $4.4 billion.<\/p>\n\n\n\n Despite a net loss of $143.4 million in its most recent quarterly report released in early November (a larger loss than the $27 million reported the previous year), MicroStrategy continued its Bitcoin acquisitions<\/a>, adding another 6,067 Bitcoins for $167 million.<\/p>\n\n\n\n Today, MicroStrategy holds approximately 0.75% of Bitcoin's total circulating supply, firmly establishing itself as a significant institutional player in the cryptocurrency market.<\/p>\n","post_title":"MicroStrategy's Stock Surges Past $500, Riding High On Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-stock-surges-past-500-riding-high-on-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2023-11-25 20:52:31","post_modified_gmt":"2023-11-25 09:52:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14504","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14495,"post_author":"15","post_date":"2023-11-25 20:23:18","post_date_gmt":"2023-11-25 09:23:18","post_content":"\n El Salvador's president, Nayib Bukele, was a strong supporter of Bitcoin during the 2021 bull market. He declared in November 2022 that the nation would add one Bitcoin daily to its growing reserve. However, critics, ranging from university professors to U.S. lawmakers, have labeled his approach as reckless.<\/p>\n\n\n\n But what has been the actual performance of this investment?<\/p>\n\n\n\n The NayibTracker<\/a> website, which relies on the president's tweets to track his Bitcoin purchases, has calculated that Bukele is currently facing an approximately 8% loss on his investment of 3,120 BTC.<\/p>\n\n\n\n According to the data, the average price at which El Salvador acquired BTC now stands at $40,498 per coin.<\/p>\n\n\n\n In total, he spent over $126 million on Bitcoin, which is currently valued at $116 million. This means he's incurred a loss of over $10 million, nearly 8% below his initial investment.<\/p>\n\n\n\n It's worth noting that all the BTC he acquired was purchased at prices below the cryptocurrency's all-time high in November 2021, with the costliest batch being 420 coins acquired at $60,345 each.<\/p>\n\n\n\n See Related:<\/em><\/strong> El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n While he has some way to go before turning a profit, it's not all negative news for El Salvador. The country was on the verge of defaulting on its significant national debts last year, but its bonds have since delivered substantial returns to investors.<\/p>\n\n\n\n Before Bukele assumed the presidency, El Salvador was primarily known for its surfing, a history of civil conflict, and gang-related violence. Under his leadership, efforts have been made to transform it into a technology hub, attracting foreign, including Chinese, investment.<\/p>\n\n\n\n With a firm crackdown on the nation's notorious gangs, the murder rate has plummeted, leading Bukele to hope for an influx of expatriates and a reduction in the number of Salvadorans heading north to the United States.<\/p>\n\n\n\n However, despite these improvements in the country's security, Bitcoin<\/a> remains a contentious issue. If Bukele's Bitcoin bet eventually turns profitable, he might need to convince his citizens of its benefits.<\/p>\n","post_title":"El Salvador's President Nayib Bukele Faces 8% Loss On Bitcoin Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvadors-president-nayib-bukele-faces-8-loss-on-bitcoin-investment","to_ping":"","pinged":"","post_modified":"2023-11-25 20:23:24","post_modified_gmt":"2023-11-25 09:23:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14495","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
See Related:<\/em><\/strong> DeFiChain Adds New Tokens Corresponding to Disney<\/a><\/p>\n\n\n\n The positive news continued as, by April, MicroStrategy's Bitcoin holdings turned profitable. With the acquisition <\/a>of an additional 1,045 Bitcoins, increasing its total holdings to 140,000 Bitcoins. The average purchase price dropped to $29,803 per coin, with a total digital asset value exceeding $4 billion.<\/p>\n\n\n\n The company reported a $24 million Bitcoin impairment charge in its second-quarter earnings report. But it returned to be profitable as a whole. MicroStrategy continued its BTC purchases<\/a>, accumulating 152,800 coins valued at around $4.4 billion.<\/p>\n\n\n\n Despite a net loss of $143.4 million in its most recent quarterly report released in early November (a larger loss than the $27 million reported the previous year), MicroStrategy continued its Bitcoin acquisitions<\/a>, adding another 6,067 Bitcoins for $167 million.<\/p>\n\n\n\n Today, MicroStrategy holds approximately 0.75% of Bitcoin's total circulating supply, firmly establishing itself as a significant institutional player in the cryptocurrency market.<\/p>\n","post_title":"MicroStrategy's Stock Surges Past $500, Riding High On Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-stock-surges-past-500-riding-high-on-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2023-11-25 20:52:31","post_modified_gmt":"2023-11-25 09:52:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14504","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14495,"post_author":"15","post_date":"2023-11-25 20:23:18","post_date_gmt":"2023-11-25 09:23:18","post_content":"\n El Salvador's president, Nayib Bukele, was a strong supporter of Bitcoin during the 2021 bull market. He declared in November 2022 that the nation would add one Bitcoin daily to its growing reserve. However, critics, ranging from university professors to U.S. lawmakers, have labeled his approach as reckless.<\/p>\n\n\n\n But what has been the actual performance of this investment?<\/p>\n\n\n\n The NayibTracker<\/a> website, which relies on the president's tweets to track his Bitcoin purchases, has calculated that Bukele is currently facing an approximately 8% loss on his investment of 3,120 BTC.<\/p>\n\n\n\n According to the data, the average price at which El Salvador acquired BTC now stands at $40,498 per coin.<\/p>\n\n\n\n In total, he spent over $126 million on Bitcoin, which is currently valued at $116 million. This means he's incurred a loss of over $10 million, nearly 8% below his initial investment.<\/p>\n\n\n\n It's worth noting that all the BTC he acquired was purchased at prices below the cryptocurrency's all-time high in November 2021, with the costliest batch being 420 coins acquired at $60,345 each.<\/p>\n\n\n\n See Related:<\/em><\/strong> El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n While he has some way to go before turning a profit, it's not all negative news for El Salvador. The country was on the verge of defaulting on its significant national debts last year, but its bonds have since delivered substantial returns to investors.<\/p>\n\n\n\n Before Bukele assumed the presidency, El Salvador was primarily known for its surfing, a history of civil conflict, and gang-related violence. Under his leadership, efforts have been made to transform it into a technology hub, attracting foreign, including Chinese, investment.<\/p>\n\n\n\n With a firm crackdown on the nation's notorious gangs, the murder rate has plummeted, leading Bukele to hope for an influx of expatriates and a reduction in the number of Salvadorans heading north to the United States.<\/p>\n\n\n\n However, despite these improvements in the country's security, Bitcoin<\/a> remains a contentious issue. If Bukele's Bitcoin bet eventually turns profitable, he might need to convince his citizens of its benefits.<\/p>\n","post_title":"El Salvador's President Nayib Bukele Faces 8% Loss On Bitcoin Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvadors-president-nayib-bukele-faces-8-loss-on-bitcoin-investment","to_ping":"","pinged":"","post_modified":"2023-11-25 20:23:24","post_modified_gmt":"2023-11-25 09:23:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14495","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Saylor expressed optimism about the future, stating, \"That\u2019s why all of us are fairly bullish over the next 12 months. Demand\u2019s going to increase, supply\u2019s going to contract, and this is fairly unprecedented in the history of Wall Street.\"<\/em><\/p>\n\n\n\n See Related:<\/em><\/strong> DeFiChain Adds New Tokens Corresponding to Disney<\/a><\/p>\n\n\n\n The positive news continued as, by April, MicroStrategy's Bitcoin holdings turned profitable. With the acquisition <\/a>of an additional 1,045 Bitcoins, increasing its total holdings to 140,000 Bitcoins. The average purchase price dropped to $29,803 per coin, with a total digital asset value exceeding $4 billion.<\/p>\n\n\n\n The company reported a $24 million Bitcoin impairment charge in its second-quarter earnings report. But it returned to be profitable as a whole. MicroStrategy continued its BTC purchases<\/a>, accumulating 152,800 coins valued at around $4.4 billion.<\/p>\n\n\n\n Despite a net loss of $143.4 million in its most recent quarterly report released in early November (a larger loss than the $27 million reported the previous year), MicroStrategy continued its Bitcoin acquisitions<\/a>, adding another 6,067 Bitcoins for $167 million.<\/p>\n\n\n\n Today, MicroStrategy holds approximately 0.75% of Bitcoin's total circulating supply, firmly establishing itself as a significant institutional player in the cryptocurrency market.<\/p>\n","post_title":"MicroStrategy's Stock Surges Past $500, Riding High On Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-stock-surges-past-500-riding-high-on-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2023-11-25 20:52:31","post_modified_gmt":"2023-11-25 09:52:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14504","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14495,"post_author":"15","post_date":"2023-11-25 20:23:18","post_date_gmt":"2023-11-25 09:23:18","post_content":"\n El Salvador's president, Nayib Bukele, was a strong supporter of Bitcoin during the 2021 bull market. He declared in November 2022 that the nation would add one Bitcoin daily to its growing reserve. However, critics, ranging from university professors to U.S. lawmakers, have labeled his approach as reckless.<\/p>\n\n\n\n But what has been the actual performance of this investment?<\/p>\n\n\n\n The NayibTracker<\/a> website, which relies on the president's tweets to track his Bitcoin purchases, has calculated that Bukele is currently facing an approximately 8% loss on his investment of 3,120 BTC.<\/p>\n\n\n\n According to the data, the average price at which El Salvador acquired BTC now stands at $40,498 per coin.<\/p>\n\n\n\n In total, he spent over $126 million on Bitcoin, which is currently valued at $116 million. This means he's incurred a loss of over $10 million, nearly 8% below his initial investment.<\/p>\n\n\n\n It's worth noting that all the BTC he acquired was purchased at prices below the cryptocurrency's all-time high in November 2021, with the costliest batch being 420 coins acquired at $60,345 each.<\/p>\n\n\n\n See Related:<\/em><\/strong> El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n While he has some way to go before turning a profit, it's not all negative news for El Salvador. The country was on the verge of defaulting on its significant national debts last year, but its bonds have since delivered substantial returns to investors.<\/p>\n\n\n\n Before Bukele assumed the presidency, El Salvador was primarily known for its surfing, a history of civil conflict, and gang-related violence. Under his leadership, efforts have been made to transform it into a technology hub, attracting foreign, including Chinese, investment.<\/p>\n\n\n\n With a firm crackdown on the nation's notorious gangs, the murder rate has plummeted, leading Bukele to hope for an influx of expatriates and a reduction in the number of Salvadorans heading north to the United States.<\/p>\n\n\n\n However, despite these improvements in the country's security, Bitcoin<\/a> remains a contentious issue. If Bukele's Bitcoin bet eventually turns profitable, he might need to convince his citizens of its benefits.<\/p>\n","post_title":"El Salvador's President Nayib Bukele Faces 8% Loss On Bitcoin Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvadors-president-nayib-bukele-faces-8-loss-on-bitcoin-investment","to_ping":"","pinged":"","post_modified":"2023-11-25 20:23:24","post_modified_gmt":"2023-11-25 09:23:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14495","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
MicroStrategy's enduring commitment to Bitcoin has proved highly profitable. Despite starting the year with a quarterly loss, the company witnessed its stock price doubling within a month. It stands as one of the largest institutional holders of Bitcoin. Founder and chairman, Michael Saylor, initiated the strategy back in August 2020 as a hedge against inflation.<\/p>\n\n\n\n Saylor expressed optimism about the future, stating, \"That\u2019s why all of us are fairly bullish over the next 12 months. Demand\u2019s going to increase, supply\u2019s going to contract, and this is fairly unprecedented in the history of Wall Street.\"<\/em><\/p>\n\n\n\n See Related:<\/em><\/strong> DeFiChain Adds New Tokens Corresponding to Disney<\/a><\/p>\n\n\n\n The positive news continued as, by April, MicroStrategy's Bitcoin holdings turned profitable. With the acquisition <\/a>of an additional 1,045 Bitcoins, increasing its total holdings to 140,000 Bitcoins. The average purchase price dropped to $29,803 per coin, with a total digital asset value exceeding $4 billion.<\/p>\n\n\n\n The company reported a $24 million Bitcoin impairment charge in its second-quarter earnings report. But it returned to be profitable as a whole. MicroStrategy continued its BTC purchases<\/a>, accumulating 152,800 coins valued at around $4.4 billion.<\/p>\n\n\n\n Despite a net loss of $143.4 million in its most recent quarterly report released in early November (a larger loss than the $27 million reported the previous year), MicroStrategy continued its Bitcoin acquisitions<\/a>, adding another 6,067 Bitcoins for $167 million.<\/p>\n\n\n\n Today, MicroStrategy holds approximately 0.75% of Bitcoin's total circulating supply, firmly establishing itself as a significant institutional player in the cryptocurrency market.<\/p>\n","post_title":"MicroStrategy's Stock Surges Past $500, Riding High On Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-stock-surges-past-500-riding-high-on-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2023-11-25 20:52:31","post_modified_gmt":"2023-11-25 09:52:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14504","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14495,"post_author":"15","post_date":"2023-11-25 20:23:18","post_date_gmt":"2023-11-25 09:23:18","post_content":"\n El Salvador's president, Nayib Bukele, was a strong supporter of Bitcoin during the 2021 bull market. He declared in November 2022 that the nation would add one Bitcoin daily to its growing reserve. However, critics, ranging from university professors to U.S. lawmakers, have labeled his approach as reckless.<\/p>\n\n\n\n But what has been the actual performance of this investment?<\/p>\n\n\n\n The NayibTracker<\/a> website, which relies on the president's tweets to track his Bitcoin purchases, has calculated that Bukele is currently facing an approximately 8% loss on his investment of 3,120 BTC.<\/p>\n\n\n\n According to the data, the average price at which El Salvador acquired BTC now stands at $40,498 per coin.<\/p>\n\n\n\n In total, he spent over $126 million on Bitcoin, which is currently valued at $116 million. This means he's incurred a loss of over $10 million, nearly 8% below his initial investment.<\/p>\n\n\n\n It's worth noting that all the BTC he acquired was purchased at prices below the cryptocurrency's all-time high in November 2021, with the costliest batch being 420 coins acquired at $60,345 each.<\/p>\n\n\n\n See Related:<\/em><\/strong> El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n While he has some way to go before turning a profit, it's not all negative news for El Salvador. The country was on the verge of defaulting on its significant national debts last year, but its bonds have since delivered substantial returns to investors.<\/p>\n\n\n\n Before Bukele assumed the presidency, El Salvador was primarily known for its surfing, a history of civil conflict, and gang-related violence. Under his leadership, efforts have been made to transform it into a technology hub, attracting foreign, including Chinese, investment.<\/p>\n\n\n\n With a firm crackdown on the nation's notorious gangs, the murder rate has plummeted, leading Bukele to hope for an influx of expatriates and a reduction in the number of Salvadorans heading north to the United States.<\/p>\n\n\n\n However, despite these improvements in the country's security, Bitcoin<\/a> remains a contentious issue. If Bukele's Bitcoin bet eventually turns profitable, he might need to convince his citizens of its benefits.<\/p>\n","post_title":"El Salvador's President Nayib Bukele Faces 8% Loss On Bitcoin Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvadors-president-nayib-bukele-faces-8-loss-on-bitcoin-investment","to_ping":"","pinged":"","post_modified":"2023-11-25 20:23:24","post_modified_gmt":"2023-11-25 09:23:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14495","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
MicroStrategy, a company known for its bullish stance on Bitcoin, celebrated Black Friday positively. The firm closed its shares above $500, a level last seen in December 2021. This surge elevated the company's market capitalization to $7.33 billion, as reported <\/a>by Nasdaq.<\/p>\n\n\n\n MicroStrategy's enduring commitment to Bitcoin has proved highly profitable. Despite starting the year with a quarterly loss, the company witnessed its stock price doubling within a month. It stands as one of the largest institutional holders of Bitcoin. Founder and chairman, Michael Saylor, initiated the strategy back in August 2020 as a hedge against inflation.<\/p>\n\n\n\n Saylor expressed optimism about the future, stating, \"That\u2019s why all of us are fairly bullish over the next 12 months. Demand\u2019s going to increase, supply\u2019s going to contract, and this is fairly unprecedented in the history of Wall Street.\"<\/em><\/p>\n\n\n\n See Related:<\/em><\/strong> DeFiChain Adds New Tokens Corresponding to Disney<\/a><\/p>\n\n\n\n The positive news continued as, by April, MicroStrategy's Bitcoin holdings turned profitable. With the acquisition <\/a>of an additional 1,045 Bitcoins, increasing its total holdings to 140,000 Bitcoins. The average purchase price dropped to $29,803 per coin, with a total digital asset value exceeding $4 billion.<\/p>\n\n\n\n The company reported a $24 million Bitcoin impairment charge in its second-quarter earnings report. But it returned to be profitable as a whole. MicroStrategy continued its BTC purchases<\/a>, accumulating 152,800 coins valued at around $4.4 billion.<\/p>\n\n\n\n Despite a net loss of $143.4 million in its most recent quarterly report released in early November (a larger loss than the $27 million reported the previous year), MicroStrategy continued its Bitcoin acquisitions<\/a>, adding another 6,067 Bitcoins for $167 million.<\/p>\n\n\n\n Today, MicroStrategy holds approximately 0.75% of Bitcoin's total circulating supply, firmly establishing itself as a significant institutional player in the cryptocurrency market.<\/p>\n","post_title":"MicroStrategy's Stock Surges Past $500, Riding High On Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-stock-surges-past-500-riding-high-on-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2023-11-25 20:52:31","post_modified_gmt":"2023-11-25 09:52:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14504","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14495,"post_author":"15","post_date":"2023-11-25 20:23:18","post_date_gmt":"2023-11-25 09:23:18","post_content":"\n El Salvador's president, Nayib Bukele, was a strong supporter of Bitcoin during the 2021 bull market. He declared in November 2022 that the nation would add one Bitcoin daily to its growing reserve. However, critics, ranging from university professors to U.S. lawmakers, have labeled his approach as reckless.<\/p>\n\n\n\n But what has been the actual performance of this investment?<\/p>\n\n\n\n The NayibTracker<\/a> website, which relies on the president's tweets to track his Bitcoin purchases, has calculated that Bukele is currently facing an approximately 8% loss on his investment of 3,120 BTC.<\/p>\n\n\n\n According to the data, the average price at which El Salvador acquired BTC now stands at $40,498 per coin.<\/p>\n\n\n\n In total, he spent over $126 million on Bitcoin, which is currently valued at $116 million. This means he's incurred a loss of over $10 million, nearly 8% below his initial investment.<\/p>\n\n\n\n It's worth noting that all the BTC he acquired was purchased at prices below the cryptocurrency's all-time high in November 2021, with the costliest batch being 420 coins acquired at $60,345 each.<\/p>\n\n\n\n See Related:<\/em><\/strong> El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n While he has some way to go before turning a profit, it's not all negative news for El Salvador. The country was on the verge of defaulting on its significant national debts last year, but its bonds have since delivered substantial returns to investors.<\/p>\n\n\n\n Before Bukele assumed the presidency, El Salvador was primarily known for its surfing, a history of civil conflict, and gang-related violence. Under his leadership, efforts have been made to transform it into a technology hub, attracting foreign, including Chinese, investment.<\/p>\n\n\n\n With a firm crackdown on the nation's notorious gangs, the murder rate has plummeted, leading Bukele to hope for an influx of expatriates and a reduction in the number of Salvadorans heading north to the United States.<\/p>\n\n\n\n However, despite these improvements in the country's security, Bitcoin<\/a> remains a contentious issue. If Bukele's Bitcoin bet eventually turns profitable, he might need to convince his citizens of its benefits.<\/p>\n","post_title":"El Salvador's President Nayib Bukele Faces 8% Loss On Bitcoin Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvadors-president-nayib-bukele-faces-8-loss-on-bitcoin-investment","to_ping":"","pinged":"","post_modified":"2023-11-25 20:23:24","post_modified_gmt":"2023-11-25 09:23:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14495","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
For many major financial institutions, custody of digital assets often involves third-party firms. The revised redemption process would likely encourage more institutional investment in the Bitcoin ETF by making share redemption faster and less risky for these entities that manage substantial assets for clients.<\/p>\n","post_title":"BlackRock Bitcoin ETF's Outline Market Manipulation Control","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-bitcoin-etfs-outline-market-manipulation-control","to_ping":"","pinged":"","post_modified":"2023-12-15 19:46:17","post_modified_gmt":"2023-12-15 08:46:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14629","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14504,"post_author":"15","post_date":"2023-11-25 20:51:43","post_date_gmt":"2023-11-25 09:51:43","post_content":"\n MicroStrategy, a company known for its bullish stance on Bitcoin, celebrated Black Friday positively. The firm closed its shares above $500, a level last seen in December 2021. This surge elevated the company's market capitalization to $7.33 billion, as reported <\/a>by Nasdaq.<\/p>\n\n\n\n MicroStrategy's enduring commitment to Bitcoin has proved highly profitable. Despite starting the year with a quarterly loss, the company witnessed its stock price doubling within a month. It stands as one of the largest institutional holders of Bitcoin. Founder and chairman, Michael Saylor, initiated the strategy back in August 2020 as a hedge against inflation.<\/p>\n\n\n\n Saylor expressed optimism about the future, stating, \"That\u2019s why all of us are fairly bullish over the next 12 months. Demand\u2019s going to increase, supply\u2019s going to contract, and this is fairly unprecedented in the history of Wall Street.\"<\/em><\/p>\n\n\n\n See Related:<\/em><\/strong> DeFiChain Adds New Tokens Corresponding to Disney<\/a><\/p>\n\n\n\n The positive news continued as, by April, MicroStrategy's Bitcoin holdings turned profitable. With the acquisition <\/a>of an additional 1,045 Bitcoins, increasing its total holdings to 140,000 Bitcoins. The average purchase price dropped to $29,803 per coin, with a total digital asset value exceeding $4 billion.<\/p>\n\n\n\n The company reported a $24 million Bitcoin impairment charge in its second-quarter earnings report. But it returned to be profitable as a whole. MicroStrategy continued its BTC purchases<\/a>, accumulating 152,800 coins valued at around $4.4 billion.<\/p>\n\n\n\n Despite a net loss of $143.4 million in its most recent quarterly report released in early November (a larger loss than the $27 million reported the previous year), MicroStrategy continued its Bitcoin acquisitions<\/a>, adding another 6,067 Bitcoins for $167 million.<\/p>\n\n\n\n Today, MicroStrategy holds approximately 0.75% of Bitcoin's total circulating supply, firmly establishing itself as a significant institutional player in the cryptocurrency market.<\/p>\n","post_title":"MicroStrategy's Stock Surges Past $500, Riding High On Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-stock-surges-past-500-riding-high-on-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2023-11-25 20:52:31","post_modified_gmt":"2023-11-25 09:52:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14504","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14495,"post_author":"15","post_date":"2023-11-25 20:23:18","post_date_gmt":"2023-11-25 09:23:18","post_content":"\n El Salvador's president, Nayib Bukele, was a strong supporter of Bitcoin during the 2021 bull market. He declared in November 2022 that the nation would add one Bitcoin daily to its growing reserve. However, critics, ranging from university professors to U.S. lawmakers, have labeled his approach as reckless.<\/p>\n\n\n\n But what has been the actual performance of this investment?<\/p>\n\n\n\n The NayibTracker<\/a> website, which relies on the president's tweets to track his Bitcoin purchases, has calculated that Bukele is currently facing an approximately 8% loss on his investment of 3,120 BTC.<\/p>\n\n\n\n According to the data, the average price at which El Salvador acquired BTC now stands at $40,498 per coin.<\/p>\n\n\n\n In total, he spent over $126 million on Bitcoin, which is currently valued at $116 million. This means he's incurred a loss of over $10 million, nearly 8% below his initial investment.<\/p>\n\n\n\n It's worth noting that all the BTC he acquired was purchased at prices below the cryptocurrency's all-time high in November 2021, with the costliest batch being 420 coins acquired at $60,345 each.<\/p>\n\n\n\n See Related:<\/em><\/strong> El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n While he has some way to go before turning a profit, it's not all negative news for El Salvador. The country was on the verge of defaulting on its significant national debts last year, but its bonds have since delivered substantial returns to investors.<\/p>\n\n\n\n Before Bukele assumed the presidency, El Salvador was primarily known for its surfing, a history of civil conflict, and gang-related violence. Under his leadership, efforts have been made to transform it into a technology hub, attracting foreign, including Chinese, investment.<\/p>\n\n\n\n With a firm crackdown on the nation's notorious gangs, the murder rate has plummeted, leading Bukele to hope for an influx of expatriates and a reduction in the number of Salvadorans heading north to the United States.<\/p>\n\n\n\n However, despite these improvements in the country's security, Bitcoin<\/a> remains a contentious issue. If Bukele's Bitcoin bet eventually turns profitable, he might need to convince his citizens of its benefits.<\/p>\n","post_title":"El Salvador's President Nayib Bukele Faces 8% Loss On Bitcoin Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvadors-president-nayib-bukele-faces-8-loss-on-bitcoin-investment","to_ping":"","pinged":"","post_modified":"2023-11-25 20:23:24","post_modified_gmt":"2023-11-25 09:23:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14495","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
While BlackRock did not provide explicit details, it claimed that this new method enhances resistance to market manipulation, which addresses the SEC's primary concern. It also aims to simplify and harmonize the ecosystem.<\/p>\n\n\n\n For many major financial institutions, custody of digital assets often involves third-party firms. The revised redemption process would likely encourage more institutional investment in the Bitcoin ETF by making share redemption faster and less risky for these entities that manage substantial assets for clients.<\/p>\n","post_title":"BlackRock Bitcoin ETF's Outline Market Manipulation Control","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-bitcoin-etfs-outline-market-manipulation-control","to_ping":"","pinged":"","post_modified":"2023-12-15 19:46:17","post_modified_gmt":"2023-12-15 08:46:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14629","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14504,"post_author":"15","post_date":"2023-11-25 20:51:43","post_date_gmt":"2023-11-25 09:51:43","post_content":"\n MicroStrategy, a company known for its bullish stance on Bitcoin, celebrated Black Friday positively. The firm closed its shares above $500, a level last seen in December 2021. This surge elevated the company's market capitalization to $7.33 billion, as reported <\/a>by Nasdaq.<\/p>\n\n\n\n MicroStrategy's enduring commitment to Bitcoin has proved highly profitable. Despite starting the year with a quarterly loss, the company witnessed its stock price doubling within a month. It stands as one of the largest institutional holders of Bitcoin. Founder and chairman, Michael Saylor, initiated the strategy back in August 2020 as a hedge against inflation.<\/p>\n\n\n\n Saylor expressed optimism about the future, stating, \"That\u2019s why all of us are fairly bullish over the next 12 months. Demand\u2019s going to increase, supply\u2019s going to contract, and this is fairly unprecedented in the history of Wall Street.\"<\/em><\/p>\n\n\n\n See Related:<\/em><\/strong> DeFiChain Adds New Tokens Corresponding to Disney<\/a><\/p>\n\n\n\n The positive news continued as, by April, MicroStrategy's Bitcoin holdings turned profitable. With the acquisition <\/a>of an additional 1,045 Bitcoins, increasing its total holdings to 140,000 Bitcoins. The average purchase price dropped to $29,803 per coin, with a total digital asset value exceeding $4 billion.<\/p>\n\n\n\n The company reported a $24 million Bitcoin impairment charge in its second-quarter earnings report. But it returned to be profitable as a whole. MicroStrategy continued its BTC purchases<\/a>, accumulating 152,800 coins valued at around $4.4 billion.<\/p>\n\n\n\n Despite a net loss of $143.4 million in its most recent quarterly report released in early November (a larger loss than the $27 million reported the previous year), MicroStrategy continued its Bitcoin acquisitions<\/a>, adding another 6,067 Bitcoins for $167 million.<\/p>\n\n\n\n Today, MicroStrategy holds approximately 0.75% of Bitcoin's total circulating supply, firmly establishing itself as a significant institutional player in the cryptocurrency market.<\/p>\n","post_title":"MicroStrategy's Stock Surges Past $500, Riding High On Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-stock-surges-past-500-riding-high-on-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2023-11-25 20:52:31","post_modified_gmt":"2023-11-25 09:52:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14504","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14495,"post_author":"15","post_date":"2023-11-25 20:23:18","post_date_gmt":"2023-11-25 09:23:18","post_content":"\n El Salvador's president, Nayib Bukele, was a strong supporter of Bitcoin during the 2021 bull market. He declared in November 2022 that the nation would add one Bitcoin daily to its growing reserve. However, critics, ranging from university professors to U.S. lawmakers, have labeled his approach as reckless.<\/p>\n\n\n\n But what has been the actual performance of this investment?<\/p>\n\n\n\n The NayibTracker<\/a> website, which relies on the president's tweets to track his Bitcoin purchases, has calculated that Bukele is currently facing an approximately 8% loss on his investment of 3,120 BTC.<\/p>\n\n\n\n According to the data, the average price at which El Salvador acquired BTC now stands at $40,498 per coin.<\/p>\n\n\n\n In total, he spent over $126 million on Bitcoin, which is currently valued at $116 million. This means he's incurred a loss of over $10 million, nearly 8% below his initial investment.<\/p>\n\n\n\n It's worth noting that all the BTC he acquired was purchased at prices below the cryptocurrency's all-time high in November 2021, with the costliest batch being 420 coins acquired at $60,345 each.<\/p>\n\n\n\n See Related:<\/em><\/strong> El Salvador Businesses Barely Impacted By Bitcoins Legality<\/a><\/p>\n\n\n\n While he has some way to go before turning a profit, it's not all negative news for El Salvador. The country was on the verge of defaulting on its significant national debts last year, but its bonds have since delivered substantial returns to investors.<\/p>\n\n\n\n Before Bukele assumed the presidency, El Salvador was primarily known for its surfing, a history of civil conflict, and gang-related violence. Under his leadership, efforts have been made to transform it into a technology hub, attracting foreign, including Chinese, investment.<\/p>\n\n\n\n With a firm crackdown on the nation's notorious gangs, the murder rate has plummeted, leading Bukele to hope for an influx of expatriates and a reduction in the number of Salvadorans heading north to the United States.<\/p>\n\n\n\n However, despite these improvements in the country's security, Bitcoin<\/a> remains a contentious issue. If Bukele's Bitcoin bet eventually turns profitable, he might need to convince his citizens of its benefits.<\/p>\n","post_title":"El Salvador's President Nayib Bukele Faces 8% Loss On Bitcoin Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"el-salvadors-president-nayib-bukele-faces-8-loss-on-bitcoin-investment","to_ping":"","pinged":"","post_modified":"2023-11-25 20:23:24","post_modified_gmt":"2023-11-25 09:23:24","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14495","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The T+1 redemption process aligns with the SEC's newly approved rules mandating stock and ETF settlements within one business day, effective late May 2024. The updated settlement approach suggested by BlackRock initiates redemption orders with cryptocurrency market makers providing cash to the broker-dealer, streamlining the process before large Wall Street banks (authorized participants) become involved.<\/p>\n\n\n\n While BlackRock did not provide explicit details, it claimed that this new method enhances resistance to market manipulation, which addresses the SEC's primary concern. It also aims to simplify and harmonize the ecosystem.<\/p>\n\n\n\n For many major financial institutions, custody of digital assets often involves third-party firms. The revised redemption process would likely encourage more institutional investment in the Bitcoin ETF by making share redemption faster and less risky for these entities that manage substantial assets for clients.<\/p>\n","post_title":"BlackRock Bitcoin ETF's Outline Market Manipulation Control","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"blackrock-bitcoin-etfs-outline-market-manipulation-control","to_ping":"","pinged":"","post_modified":"2023-12-15 19:46:17","post_modified_gmt":"2023-12-15 08:46:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14629","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14504,"post_author":"15","post_date":"2023-11-25 20:51:43","post_date_gmt":"2023-11-25 09:51:43","post_content":"\n MicroStrategy, a company known for its bullish stance on Bitcoin, celebrated Black Friday positively. The firm closed its shares above $500, a level last seen in December 2021. This surge elevated the company's market capitalization to $7.33 billion, as reported <\/a>by Nasdaq.<\/p>\n\n\n\n MicroStrategy's enduring commitment to Bitcoin has proved highly profitable. Despite starting the year with a quarterly loss, the company witnessed its stock price doubling within a month. It stands as one of the largest institutional holders of Bitcoin. Founder and chairman, Michael Saylor, initiated the strategy back in August 2020 as a hedge against inflation.<\/p>\n\n\n\n Saylor expressed optimism about the future, stating, \"That\u2019s why all of us are fairly bullish over the next 12 months. Demand\u2019s going to increase, supply\u2019s going to contract, and this is fairly unprecedented in the history of Wall Street.\"<\/em><\/p>\n\n\n\n See Related:<\/em><\/strong> DeFiChain Adds New Tokens Corresponding to Disney<\/a><\/p>\n\n\n\n The positive news continued as, by April, MicroStrategy's Bitcoin holdings turned profitable. With the acquisition <\/a>of an additional 1,045 Bitcoins, increasing its total holdings to 140,000 Bitcoins. The average purchase price dropped to $29,803 per coin, with a total digital asset value exceeding $4 billion.<\/p>\n\n\n\n The company reported a $24 million Bitcoin impairment charge in its second-quarter earnings report. But it returned to be profitable as a whole. MicroStrategy continued its BTC purchases<\/a>, accumulating 152,800 coins valued at around $4.4 billion.<\/p>\n\n\n\n Despite a net loss of $143.4 million in its most recent quarterly report released in early November (a larger loss than the $27 million reported the previous year), MicroStrategy continued its Bitcoin acquisitions<\/a>, adding another 6,067 Bitcoins for $167 million.<\/p>\n\n\n\n Today, MicroStrategy holds approximately 0.75% of Bitcoin's total circulating supply, firmly establishing itself as a significant institutional player in the cryptocurrency market.<\/p>\n","post_title":"MicroStrategy's Stock Surges Past $500, Riding High On Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategys-stock-surges-past-500-riding-high-on-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2023-11-25 20:52:31","post_modified_gmt":"2023-11-25 09:52:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14504","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14495,"post_author":"15","post_date":"2023-11-25 20:23:18","post_date_gmt":"2023-11-25 09:23:18","post_content":"\n El Salvador's president, Nayib Bukele, was a strong supporter of Bitcoin during the 2021 bull market. He declared in November 2022 that the nation would add one Bitcoin daily to its growing reserve. However, critics, ranging from university professors to U.S. lawmakers, have labeled his approach as reckless.<\/p>\n\n\n\n But what has been the actual performance of this investment?<\/p>\n\n\n\n
ADVERTISEMENT
ADVERTISEMENT
Other Side Of El Salvador<\/h2>\n\n\n\n
ADVERTISEMENT
Other Side Of El Salvador<\/h2>\n\n\n\n
ADVERTISEMENT
Other Side Of El Salvador<\/h2>\n\n\n\n
ADVERTISEMENT
Other Side Of El Salvador<\/h2>\n\n\n\n
ADVERTISEMENT
Other Side Of El Salvador<\/h2>\n\n\n\n
ADVERTISEMENT
Other Side Of El Salvador<\/h2>\n\n\n\n
ADVERTISEMENT
Other Side Of El Salvador<\/h2>\n\n\n\n
ADVERTISEMENT
Other Side Of El Salvador<\/h2>\n\n\n\n
ADVERTISEMENT
Other Side Of El Salvador<\/h2>\n\n\n\n
ADVERTISEMENT
Other Side Of El Salvador<\/h2>\n\n\n\n
ADVERTISEMENT
Other Side Of El Salvador<\/h2>\n\n\n\n
ADVERTISEMENT
Other Side Of El Salvador<\/h2>\n\n\n\n
ADVERTISEMENT
Microstrategy's Buying Spree Strategy<\/h2>\n\n\n\n
Other Side Of El Salvador<\/h2>\n\n\n\n
ADVERTISEMENT
Microstrategy's Buying Spree Strategy<\/h2>\n\n\n\n
Other Side Of El Salvador<\/h2>\n\n\n\n
ADVERTISEMENT
Microstrategy's Buying Spree Strategy<\/h2>\n\n\n\n
Other Side Of El Salvador<\/h2>\n\n\n\n
ADVERTISEMENT
Microstrategy's Buying Spree Strategy<\/h2>\n\n\n\n
Other Side Of El Salvador<\/h2>\n\n\n\n
ADVERTISEMENT
Microstrategy's Buying Spree Strategy<\/h2>\n\n\n\n
Other Side Of El Salvador<\/h2>\n\n\n\n
ADVERTISEMENT
Microstrategy's Buying Spree Strategy<\/h2>\n\n\n\n
Other Side Of El Salvador<\/h2>\n\n\n\n
ADVERTISEMENT
Microstrategy's Buying Spree Strategy<\/h2>\n\n\n\n
Other Side Of El Salvador<\/h2>\n\n\n\n
ADVERTISEMENT
Microstrategy's Buying Spree Strategy<\/h2>\n\n\n\n