Strategy and El Salvador saw massive gains as Bitcoin hit new peak
Strategy (formerly MicroStrategy) and El Salvador showcased huge paper gains from their Bitcoin holdings after the flagship crypto surged to a new all-time high above $124,000.
Strategy’s Bitcoin holdings reach ATH
On Aug. 13, Strategy Chairman Michael Saylor announced that the company’s Bitcoin portfolio had reached a record high of $77.2 billion.
This nearly doubles the $41.8 billion valuation recorded in 2024 and marks a staggering 40-fold increase from the $2.1 billion the firm invested when it began accumulating BTC in 2020.
Data from Saylor Tracker shows the firm currently holds 628,946 BTC, which is worth about $76.52 billion at current market prices. The holdings translate to paper profits of more than $30 billion as Strategy had invested roughly $46 billion in the crypto at an average price of $73,301 per coin.
Notably, Saylor’s accumulation strategy faced initial skepticism from critics who questioned the risks of such heavy exposure to a volatile asset.
However, BTC’s rally has vindicated this approach, placing Strategy among the world’s largest corporations.
Building on this momentum, the firm is expanding its Bitcoin-centric offerings. It has launched a suite of BTC-backed financial instruments to attract additional investment and further grow its Bitcoin reserves.
El Salvador flaunts gains
El Salvador is also simultaneously celebrating its own Bitcoin windfall amid the current bull market situation.
On Aug. 13, President Nayib Bukele shared data showing that the nation’s holdings have grown to $768.85 million from an initial investment of $300.5 million. This represents a profit of roughly $468.3 million, or 155.82%.
Over the years, the Central American country has championed Bitcoin adoption by executing daily purchases using a disciplined dollar-cost-averaging approach.
Meanwhile, El Salvador is also pushing forward with plans for a dedicated Bitcoin bank to further integrate the top crypto into its broader financial system.
However, the country has faced significant pushback from institutions such as the International Monetary Fund (IMF) over its adoption of Bitcoin.
The IMF has consistently cautioned against further BTC purchases and recently suggested that some reported acquisitions may reflect internal wallet transfers rather than fresh Bitcoin buys.
The post Strategy and El Salvador saw massive gains as Bitcoin hit new peak appeared first on CryptoSlate.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
US CPI Heats Up Across the Board, Triggering "Inflation Spiral" Alert; October Rate Hike Odds Once Hit 50%. "New Fed News Agency": Watch Waller's Speech This Week
After the CPI was released, the market-implied rate hike probability first rose to 50% before falling back to 40%. Wall Street generally believes that whether action will be taken in October still depends on how the Federal Reserve assesses inflation trends. "The New Fed News Agency" noted that, unlike in August when price increases were concentrated in certain items, the stronger-than-expected performance of September's core CPI was more broad-based, further reinforcing the case for a December rate hike. The speech by Waller on Friday morning Beijing time is his last public statement before the Fed's blackout period ahead of this month's meeting. Economists are warning about an "inflation spiral," with real purchasing power and midterm election pressures interweaving.
The calm period in the US stock market is over! The S&P 500 ends its record of 53 consecutive trading days without a drop of over 1%. AI stock sell-off intensifies market concerns.
The S&P 500 Index fell by 1.1%, ending a streak of 53 consecutive trading days without a drop of 1% or more. This was the longest period of calm since January 2020.
Federal Reserve Beige Book: U.S. economy expands moderately but inflationary pressures intensify; AI boosts productivity curbing some corporate hiring demand
The latest Beige Book released by the Federal Reserve on Wednesday shows that overall economic activity in the United States continues to grow, but performance varies across regions. Consumer spending remains generally weak, and there has been little change in the labor market.
Overnight US Stocks | September Inflation Remains High, Major Indexes Decline, Coreweave (CRWV.US) Drops Over 15%
At the close, the Dow Jones Industrial Average fell by 47.96 points, or 0.09%, to 51,622.14 points; the S&P 500 Index dropped by 85.95 points, or 1.10%, to 7,719.50 points; and the Nasdaq Composite Index declined by 511.51 points, or 1.88%, to 26,692.87 points.
Crypto prices
More
