GM friends.
Besides Micheal Saylor and us hodlers, who else is feeling pretty damn good right about now?
None other than El Salvador’s president, Nayib Bukele. This epic 8 week pump has him talking up his country’s bitcoin gains across X.
So pour up a medium bodied, balanced, low acidic coffee in celebration, because here comes your mid-week crypto update. ☕️📰
Here’s what’s in today’s issue:
- David shares his thoughts on El Salvador’s Bitcoin investment officially being in profit, IBM jumping into crypto cold storage, Bitcoin ETF updates, crypto lobbying cash to U.S. Congress reaching an ATH & Helium Mobile going national.
- Erik has an article on DePIN (Decentralized Physical Infrastructure).
- In case you missed it by Rebecca.
El Salvador’s Bitcoin Investment is Officially in Profits!
El Salvador’s President, Nayib Bukele, announced some very positive news Monday evening on X. The country’s bitcoin investment has officially turned a profit.
If you’ll remember, El Salvador began purchasing bitcoin in Q3 2021, as part of a larger move to integrate bitcoin throughout the country’s government and society. But after prices peaked in Nov. 2021, El Salavador’s holdings were soon at a loss.
However, the country continued to DCA throughout the 2022 bear market. And because of that persistence, that loss is no more.
As of Monday evening, El Salvador owned 3,143 bitcoin purchased at an average price of $40.4K. Thus, at that time, the country had an unrealized profit of $3.6 million.
But this is crypto and we aren’t in Monday anymore. So at the time of this writing (e.g. BTC’s at $44K), El Salvador has an unrealized profit of $11.3 million.
Booyahh!! Suck on that IMF.
Check out Bukele’s “profits” post on X. He had some spicy words for his critics. Moreover, he’s signaling the same hodling intentions as Microstrategy’s Michael Saylor.
And speaking of Microstrategy, assuming the company hasn’t made any December purchases (they probably have), they’re now standing on a cool $2.4 billion dollar bitcoin profit.
As awesome as El Salvador and Microstrategy’s profits are, there’s something more interesting happening right in front of us. And that’s this emerging trend of powerful people (e.g. CEOs and presidents of countries) posting their bitcoin profits to social media.
Michael Saylor has been doing this for a few years now. But Bukele’s post on Monday was his first. Together, the world is witnessing, from two consequential leaders in two very different sectors, the financial benefits of a bitcoin DCA strategy.
I think this is huge. Talk about network effects and the potential for further adoption.
IBM Jumps into Crypto Cold Storage for Institutions
On Tuesday, computing giant IBM announced their new “Hyper Protect Offline Signing Orchestrator (OSO)”. It’s a program that works in conjunction with crypto cold wallets to help further reduce risks of losses.
The program is marketed as a security solution for institutions dealing with mega amounts of crypto, and it’s the culmination of a few years of cold wallet security research by IBM.
It appears that OSO targets the one big risk factor with crypto cold wallets – the owners themselves. If you will, imagine Saylor copy/pasting a…
Hi! My name is Lark Davis!
I’m a cryptocurrency investor with years of experience and I’ve been making consistent profits in the crypto space.
I’m passionate about helping others do the same, so I run multiple educational channels on crypto investing.
