El Salvador’s Bitcoin Bet Yields $333M in Unrealized Gains

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Big Story?

“The One Web3 Trend You Can’t Ignore This Week”

El Salvador’s Bitcoin Bet Yields $333M in Unrealized Gains

On Dec 5, Bitcoin reached a new ATH and passed the $100,000 mark. It was the same day Autism Capital asked El Salvador's President, Nayib Bukele on X? to “dunk on the haters.” Nayib responded with the country's Bitcoin holdings which shows an average acquisition price of approximately $44,739 per BTC, now boasting unrealized gains exceeding $333 million.

El Salvador's success story started on Sep 7, 2021 when the country embraced Bitcoin as legal tender, officially making BTC a currency legally recognized for financial exchanges within El Salvador.?

This financial milestone illustrates the potential benefits of integrating cryptocurrency into national economic strategies. Beyond profits, El Salvador's Bitcoin adoption has spurred increased tourism and positioned the nation as a pioneer in digital currency utilization. However, institutions like the International Monetary Fund have expressed concerns, advising caution due to potential financial stability risks.

For more information read the Full Article.

Alpha Toolkits

"Tools, guide, and educational tips to Build Smarter in Web3."

How to Use and Store Bitcoin Safely

It is your job to secure and manage your assets. And with cyber threats and scams on the rise, knowing how to store and manage your cryptocurrency can mean the difference between securing your assets or losing them forever. This guide covers the best practices for using and storing your Bitcoin safely:

• Choose a Secure Wallet: Opt for reputable wallets—hardware wallets like Ledger or Trezor offer offline storage, reducing hacking risks.
• Protect Your Private Keys: Keep your private keys confidential and consider storing them in a secure, offline location.
• Enable Two-Factor Authentication (2FA): Add an extra layer of security to your wallets and exchange accounts by enabling 2FA.
• Stay Vigilant Against Phishing Scams: Be cautious of unsolicited communications and double-check URLs to avoid fake websites.
• Regularly Update Software: Keep your wallet and device software up to date to protect against the latest security vulnerabilities.
• Backup Your Wallet: Maintain regular backups of your wallet in secure locations to prevent loss due to device failure.
• Use Strong, Unique Passwords: Employ complex passwords and consider using a reputable password manager for added security.
• Educate Yourself Continuously: Stay informed about the latest security practices and potential threats in the cryptocurrency space.

For more information grab the Full Article.

Market Movers

"All happenings: Who’s Winning (and Losing) in the Market Today."

Winners and losers in the past 12H.

Florida is poised to establish a strategic Bitcoin reserve by early 2025: investing 1% of its $185.7 billion pension fund in Bitcoin. Led by Samuel Armes of the Florida Blockchain Business Association and backed by state leaders, this strategy aims to hedge against market volatility and position Florida as a leader in crypto innovation.

ISC Money, a stablecoin on the Solana blockchain, is ceasing operations after two years due to insufficient product-market fit. The team plans to pivot to FxSwap, aiming to leverage their existing technology in a new direction.

The UK's Financial Conduct Authority (FCA) has issued a warning against Pump.fun, a Solana-based meme coin launchpad, for operating without proper authorization and potentially targeting UK consumers. In response, Pump.fun has restricted access for UK users, marking a significant regulatory action in the crypto space.

President-elect Donald Trump's commitment to making the U.S. the "crypto capital of the planet" has propelled Bitcoin's value beyond $100,000. His nomination of crypto advocate Paul Atkins to lead the SEC signals a shift toward favorable regulations, potentially accelerating the adoption of tokenized capital markets.

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