December 1st, 2024

The Salvadoran government has 5,940 bitcoins worth $582M

El precio del bitcoin se acerca a $100,000, alcanzando $98,342, impulsado por la inversión institucional y el interés creciente, mientras El Salvador acumula $582 millones en reservas de bitcoin.

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The Salvadoran government has 5,940 bitcoins worth $582M

El precio del bitcoin se aproxima a los $100,000, alcanzando $98,342 en la mañana del 21 de noviembre de 2024, con un incremento del 4.65% en 24 horas y del 7% en la última semana. Este aumento se produce en un contexto donde El Salvador ha acumulado $582 millones en reservas estatales de bitcoin, equivalentes a 5,940 monedas, generando ganancias no realizadas de más de $166 millones. La reciente subida del bitcoin ha sido impulsada por un aumento en la inversión institucional, especialmente en opciones sobre el ETF iShares Bitcoin Trust (IBIT) de BlackRock, que tuvo un volumen de $1,900 millones en su primer día de negociación. Expertos sugieren que la victoria de Donald Trump podría influir en el mercado de criptomonedas, generando expectativas sobre posibles políticas favorables hacia el bitcoin en Estados Unidos. Este contexto sugiere un creciente interés y adopción de bitcoin, tanto a nivel individual como institucional, lo que podría tener repercusiones globales en la percepción y uso de criptomonedas.

- El bitcoin se acerca a los $100,000, alcanzando $98,342.

- El Salvador tiene $582 millones en reservas de bitcoin.

- La inversión institucional está impulsando el aumento del precio del bitcoin.

- La victoria de Donald Trump podría afectar positivamente el mercado de criptomonedas.

- Se han negociado $1,900 millones en opciones del ETF iShares Bitcoin Trust en su primer día.

Link Icon 8 comments
By @ggm - 5 months
GDP of $32b so 1.8% of their annual activity, invested in sovereign funds are in a high risk high yield asset class.

Fair enough. What the rest of their state financial asset investments are isn't clear: they've been doing smart debt recycling getting rid of high interest overhangs of being a basket case economy.

National exchequer isn't kitchen penny jar. I wouldn't personally invest in bitcoin because I don't like gambling and I'm content to live in an ETF world reflecting overall market trends, through my retirement fund. I wouldn't have a clue if they hold any and as long as it was a small % I wouldn't care much.

By @modeless - 5 months
This represents less than 10% of annual government spending or revenue and less than 2% of their outstanding debt. It's cool, but not a huge deal at this point. If Bitcoin went up another 10x it would be significant.
By @avalys - 5 months
How are they storing the key, I wonder?
By @ks2048 - 5 months
Dumb questions: Are they going to sell? When? If not, what's the point?

Likewise, there is talk about people trying to get Trump to create a "strategic bitcoin reserve". Granted I have my biases against crypto/web3, but even trying to understand the argument, I don't get it.

By @bustodisgusto - 5 months
I just spent a week traveling El Salvador.

They recently (<2 years ago) arrested basically every criminal in the country and have the highest incarceration rate in the world by far. It’s a bit controversial internationally but the El Salvadorian people love it.

All I can say is visit now while it’s a well kept secret. I’ve never felt safer in a Latin American country. it’s beautiful, cheap and authentic. It feels like a country on the rise. While driving there it felt like everything was under construction (in a good way)

By @yieldcrv - 5 months
Coming soon to every G-7’s national government and every administrative subdivision within them via multiple agencies at each level