Bitcoin Pumps as Global Interest Surges

It’s been a cozy winter but there seems to be a certain energy around the world about bitcoin and building optimism as we close out 2023.

As the price of bitcoin glides past 40k for the first time since April 2022, there is a strong momentum growing for global inclusion in various business investment and service capacities.

El Salvador’s President Bukele has led nation state adoption of Bitcoin, never wavering in his resolve and commitment for El Salvador to hold on to the bitcoin it purchased during the bull market - and even announcing a purchase program of 1 Bitcoin every day since November 2022.

As the Bitcoin price surges past $40K and El Salvador’s Bitcoin holding have pushed back into profit, I’m guessing there is some feeling of satisfaction Bukele is experiencing right now.

President Bukele shared on his X/Twitter that if they were to sell their bitcoin now they would not only recover 100% of their investments but also make a profit of $3.6 million USD.

Bukele has been the trail-blazer in bitcoin adoption, but now there are some big headlines emerging from around the globe as the world plays catch-up.

The largest bank in Brazil (Itau Unibanco) has officially launched bitcoin and crypto trading.

This move came after two local options announced they were leaving the crypto market, according to Reuters. PicPay cited regulatory uncertainty while XP hasn’t disclosed the motivation to cease providing crypto brokerage and investment services.

Many nation States are already invested in bitcoin mining… but now it looks like the big money funds are coming to the party with rumours that the Qatar Sovereign Wealth Fund may be ready to buy bitcoin!

With all the buzz around Bukele’s successful announcement of his worthwhile bitcoin investments it will be very interesting to see what other countries follow in his orange footprints.

And while I’m not ready to declare this bear market over quite yet, as various countries choose to embrace bitcoin, things are absolutely on a very hopeful path.

We really just might make it!

xoxo,

Mills