El Salvador's Bitcoin investments in $3.6 million profit, claims President Nayib Bukele: ‘No intention to sell….’
livemint.comunregulated cryptocurrencies. “Of course, we have no intention of selling; that has never been our objective. We are fully aware that the price will continue to fluctuate in the future, this doesn’t affect our long-term strategy.
Nonetheless, it is important that the naysayers and the authors of those hit pieces take back their statements. The responsible thing to do would be for them to issue retractions, offer apologies, or, at the very least, acknowledge that El Salvador is now yielding a profit, just as they repeatedly reported that we were incurring losses," President Nayib Bukele added. Bitcoin prices experienced a 4% surge on Monday, reaching $41,598.0, its highest value since April 2022.
This upward trajectory can be attributed to growing optimism surrounding potential reductions in US interest rates, coupled with speculation among traders anticipating the imminent approval of Bitcoin funds traded on the US stock market. "The impact of an (ETF) approval is going to be big in terms of investment appetite because it's going to be more easily regulated, more attractive and easier to invest," Ipek Ozkardeskaya, senior market analyst at Swissquote Bank told news agency Reuters. "What we have right now is a risk rally, and bitcoin is also benefiting big time by falling yields.
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