Financial Insights That Matter
Swan Bitcoin adviser Max Keiser explains why El Salvador is bullish on bitcoin and discusses the potential impact of a Trump presidency on the crypto industry on ‘Making Money.’
President-elect Trump congratulated bitcoin holders, and El Salvador’s President Nayib Bukele took a victory lap on social media in response to bitcoin surpassing $100,000.
“CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU’RE WELCOME!!! Together, we will Make America Great Again!” Trump declared on Truth Social.
Trump, who positioned himself as a pro-crypto candidate during the 2024 election, pledged earlier this year that if elected, his administration’s policy would be for the U.S. to retain all the bitcoin it holds and all the bitcoin it obtains going forward.
“This will serve in effect as the core of the strategic national bitcoin stockpile,” Trump declared during remarks at the 2024 Bitcoin Conference in Nashville, Tennessee.
TRUMP CALLS FOR US TO BE ‘CRYPTO CAPITAL OF THE PLANET’ AT BITCOIN CONFERENCE IN NASHVILLE
President-elect Trump, left, and El Salvador President Nayib Bukele. (Getty Images)
El Salvador has been accumulating the cryptocurrency, and with bitcoin soaring to new heights, Bukele, an outspoken bitcoin bull who has presided over the nation’s embrace of the digital asset, is taking a victory lap.
He shared a screenshot of a more than $603,000,000 portfolio, likely showing off the value of the country’s bitcoin holdings.
The tweet earned a response from business magnate Elon Musk, who wrote, “Impressive.”
Bukele shared the screenshot of the massive portfolio in response to a post from an X account called “Autism Capital” that urged him to “Post the portfolio again,” adding, “It’s time to dunk on the haters.”
BITCOIN HITS $100,000 FOR THE FIRST TIME EVER
El Salvador President Nayib Bukele waves as he takes part in a wreath-laying ceremony to pay homage to Argentine national hero General Jose de San Martin as part of a visit to Argentina at San Martin square in Buenos Aires on Sept. 30. (Tomas Cuesta/Getty Images)
An X account called “Salvadoran Pride” posted a gif of Hulk Hogan and wrote, “President Bukele asking the haters what they have to say about Bitcoin now.”
Bukele responded with an ear emoji.
Back in 2021, El Salvador became the first country to adopt bitcoin as legal tender.
EL SALVADOR TO KEEP DOLLAR AS LEGAL TENDER, SEEKS WORLD BANK HELP WITH BITCOIN
Bitcoin Foundation Chairman Brock Pierce discusses his travels to El Salvador to help guide and inform the country on making bitcoin a legal tender.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
The Central American nation has been buying bitcoin for years. “El Salvador has just bought it’s first 200 coins,” Bukele tweeted in 2021.
#1a73e8;">Boost Your Financial Knowledge and Achieve Stability
Discover a growing online community dedicated to delivering financial news, tips, and strategies designed to help you manage money effectively, save smarter, and grow your investments with confidence.
#1a73e8;">Top Financial Tips for Saving and Investing
- Personal Finance Management: Master the art of budgeting, expense tracking, and building a strong financial foundation.
- Investment Opportunities: Stay updated on market trends, learn about stocks, and explore secure ways to grow your wealth.
- Expert Money-Saving Advice: Access proven techniques to reduce expenses and maximize your financial potential.