As Bitcoin BTC/USD approaches its all-time high, El Salvador President Nayib Bukele has taken to social media to express his anticipation.
What Happened: On Tuesday, Bukele posted a meme on X depicting the popular character Mr. Bean waiting for something. This post accompanied a retweet of his earlier tweet, where he wrote, “Still waiting…”
Bitcoin is on the verge of hitting a new all-time high. The cryptocurrency’s market capitalization has already reached $1.33 trillion due to various factors, including the influx of funds into spot BTC exchange-traded funds (ETFs).
At the time of writing the article, Bitcoin was trading at $67,080.11, which is 1.69% lower than its opening price on Tuesday, as per Benzinga Pro data.
Why It Matters: Bukele has been a vocal supporter of Bitcoin and has staunchly defended El Salvador’s decision to hold onto its Bitcoin reserves despite criticism. Bukele earlier responded to naysayers by asserting that El Salvador would not be selling its Bitcoin holdings, citing the classic argument of Bitcoin supporters that “1 BTC = 1 BTC,” regardless of its dollar valuation.
He further dismissed the authors of “hit pieces” who had written “literally thousands of articles” about the country’s “supposed losses.”
Bukele has also taken a jab at Bitcoin’s vocal opponent Peter Schiff, as El Salvador’s BTC profit soared 40%. He credited El Salvador's citizenship program as the primary method of Bitcoin acquisition.
Photo by Gobierno Danilo Medina on Flickr
Engineered by Benzinga Neuro, Edited by Pooja Rajkumari
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
