A key factor in this bullish trend is El Salvador’s bold Bitcoin investment strategy, which has generated impressive returns. Recently, El Salvador’s President Nayib Bukele revealed via an X post that the country’s Bitcoin holdings have yielded over $357 million in unrealized profit.
Let’s dive deeper into this developing story.
El Salvador’s Bitcoin Investment Strategy: Key Facts
El Salvador became the first country to adopt Bitcoin as legal tender in 2021, signaling its strong pro-crypto stance. According to El Salvador’s Bitcoin Office, the country currently holds 6,181 BTC, valued around $639 million at current prices.
El Salvador’s BTC Holdings: $357 Million Unrealized Profit
President Bukele’s recent X post confirmed the unrealized gains from their Bitcoin holdings:
“Our BTC holdings have generated over $357 million in unrealized profit.” View Bukele’s post on X
With the BTC price around $102K per token, the total value of El Salvador’s holdings stands at roughly $644 million. The country’s initial investment was approximately $287.1 million, meaning their Bitcoin assets have grown by an incredible 124.4%.
A law was passed making Bitcoin usage voluntary for the private sector, not mandatory.
Many global critics and some Bitcoin supporters have distanced themselves from El Salvador’s approach.
However, President Bukele remains firm in his commitment:
“If it didn’t stop when the world ostracised us and most ‘bitcoiners’ abandoned us, it won’t stop now, and it won’t stop in the future.”
What This Means for Bitcoin’s Future
El Salvador’s successful BTC investment highlights growing acceptance and confidence in Bitcoin as an asset and legal tender. Its experience could influence other countries considering similar moves, especially amid Bitcoin’s current bullish momentum.
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Cardano users will soon be able to access XRP in the ecosystem’s flagship Lace Wallet to bridge the gap between both ecosystems. Cardano Founder Charles Hoskinson confirmed the integration of XRP in a surprise AMA earlier this week. Notably, this deployment marks a major shift for both ecosystems, which were once top rivals.
Cardano Lace Wallet and XRP Integration: Drive For New Utility
During the Surprise AMA, a listener asked Hoskinson if he and his team are still considering partnering with Ripple executives. It is worth noting that Charles Hoskinson has given several indications that the Proof-of-Stake (PoS) chain will integrate XRP.
With the Lace Wallet integration, ADA holders can now interact with XRP. Among the many functions that will be enabled include storage, sending, and receival of the Ripple Labs-backed coin. The light wallet is exclusive to the ADA ecosystem. However, it launched a multichain push earlier this year.
As reported by CoinGape at the time, Lace integrated Bitcoin, setting XRP as one of the few mainstream assets on track to be deployed onchain. Despite the big reveal during the AMA Session, Charles Hoskinson did not reveal the exact timeline for the wallet to complete the integration.
The Cardano Midnight Airdrop
Another major news item fueling optimism in the ecosystem is tied to the Midnight Network. According to Charles Hoskinson, XRP holders will also gain access to participate in the Midnight Network airdrop. As revealed earlier, the new protocol aims to hold NIGHT.
Charles Hoskinson and his team have been developing the Midnight Network for over a year. The developers consider the protocol the next major innovation to drive the ethos of decentralization while staying compliant.
Per its design, the protocol has two unique tokens, NIGHT and DUST. While NIGHT is the governance token, DUST helps guarantee anonymous transitions. The latest update from the Cadano Founder shows that as many as 37 million users will benefit from this airdrop. Notably, XRP is one of the eight chains that will participate.
This airdrop is one of the many ways the protocol adds value to users. Earlier in February, Midnight tapped OpenZeppelin for DeFi. The partnership will see both protocols develop smart contracts to drive that can drive the adoption of DeFi.
ADA and XRP Price To Benefit
The ecosystem integration unveiled by Charles Hoskinson will benefit the prices of ADA and XRP. However, the ADA price is facing a bearish consolidation, falling from a high of $0.7331 to a low of $0.7023.
Despite the generally bullish update about XRP, the coin’s growth outlook is flat in 24 hours, at $2.198. While the current trend might be a healthy reversal, new updates like the new Brazil XRP ETF can complement the Cardano update, shaping the price outlook.
Bitcoin is testing range lows, and Ethereum has tapped its lowest price since November 2023 today – so it’s a huge opportunity for traders to secure discounted prices before the next leg up.
But what are the best crypto to buy? This article reviews five promising projects that could have 100x potential this year.
Solaxy
Solaxy is building the first-ever Solana layer 2 blockchain. Using off-chain computation and transaction bundling technology, the project will eradicate Solana’s congestion issue.
It’s a huge leap forward for the Solana ecosystem, making it cheaper, faster, and more reliable. This will open Solana to new users and use cases, potentially creating billions of dollars in new value.
And right now, SOLX is undergoing a presale. It’s a way for investors to join from the start. The presale has raised $25.7 million so far. It’s currently priced at $0.001658, but this will rise throughout the campaign.
Solaxy is at a rare juncture right now. Not only is it opening Solana to new possibilities, but it’s also available to buy from the ground floor. For SOLX presale participants, this setup could give 100x gains.
MIND Of Pepe
MIND Of Pepe is a new Pepe-themed AI agent that aims to make its holders money. The agent has a wide range of abilities, including trend analysis, launching tokens, interacting with dApps, and even writing social media posts.
It covers all angles, from identifying trading opportunities to creating them and then shaping social discourse around them.
But its bread-and-butter is trend analysis. MIND Of Pepe will consolidate social media and on-chain data into actionable insights to predict future trends, helping MIND holders know what to buy and when.
Moreover, it can also fill gaps in the market by launching its own tokens. Again, MIND holders will have first access, providing them with the best entry prices.
The project is undergoing a presale and has raised $7.2 million so far.
As MIND Of Pepe seeks to make its community more profitable, the project is positioned to amass significant adoption, which could make the MIND presale a highly lucrative opportunity for traders.
Mantra
Bitcoin, Ethereum, and XRP are all down today, as are many smaller altcoins. However, Mantra continues to push ahead in what’s becoming a running theme throughout the past year.
While the total crypto market cap is down 3.8% in the past 24 hours, Mantra is up 2.5% in the same window. It’s clear that investors see real value in the Mantra use case.
The reason is that Mantra is a real-world assets-focused layer 1 blockchain, providing a regulatory-adherent environment for institutions to tokenize their assets.
It’s a use case that veers outside the walled garden of normal crypto use cases and penetrates the traditional financial system. And it isn’t just today that Mantra has outperformed the market. Its price has surged by 2,000% in the past year.
Mantra has a $6 billion market cap, so it’s unlikely to give 100x gains this year. However, given its immense strength and focus on institutional adoption, there’s every chance it will become a top-five cryptocurrency and potentially rival XRP and Ethereum in the coming years.
Hedera
Hedera offers an alternative to traditional blockchain platforms with its Hashgraph distributed ledger technology. Unlike conventional blockchain systems, Hedera’s architecture provides improved efficiency in several key metrics.
The platform processes transactions with fees of approximately $0.0001 USD and confirmation times under five seconds. Hedera’s network can handle more than 10,000 transactions per second, which compares favorably to the 5-20 TPS typical of many proof-of-work blockchains.
HBAR, the network’s utility token, experienced significant price movement in late November 2024, rising from $0.04 to $0.37 before settling at around $0.20. This price activity reflects growing market awareness of the platform’s capabilities, with the recent downturn being attributed to the general crypto market.
According to crypto analysts at More Crypto Online, HBAR is looking for downturn confirmation between $0.09 and $0.016. However, its mid-term outlook is extremely positive, with potential targets at $0.4 and $0.6.
With a governance structure managed by the Hedera Governing Council and features designed to support enterprise applications, Hedera aims to address practical business needs while maintaining security and decentralization principles. As organizations continue to explore blockchain alternatives, Hedera’s focus on performance and regulatory compatibility may position it for increased adoption.
BTC Bull Token
BTC Bull Token is a Bitcoin-themed meme coin that pays its holders Bitcoin rewards. The idea is to increase Bitcoin ownership among meme coin fans and offset some of the volatility of meme coin investing through airdrops.
Users will receive free BTC and BTCBULL airdrops at key milestones on Bitcoin’s journey to $1 million. At the same time, Bitcoin-related cryptos tend to track Bitcoin’s price, so we can also expect the BTCBULL price to grow as Bitcoin rises.
Users also earn even more via the project’s staking mechanism, which is live now and offering a 123% APY.
BTC Bull Token also has a burn mechanism, which destroys a portion of the total supply at key price milestones.
The project is available to buy via an ongoing presale, which has raised $3.4 million so far.
With Bitcoin rewards at its core and multiple other community reward initiatives, meme coin fans are scrambling to buy BTCBULL. This positions it for significant growth in the coming months.
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Bitcoin is testing range lows, and Ethereum has tapped its lowest price since November 2023 today – so it’s a huge opportunity for traders to secure discounted prices before the next leg up. But what are the best crypto to buy? This article reviews five promising projects that could have 100x potential this year. Solaxy …