El Salvador and Bitcoin advocacy companies are reaping rewards after years of skepticism.
Several forward-thinking companies, including El Salvador and Nexon and Tahini, are reaping significant returns from their Bitcoin investments and defying the skepticism faced by media and financial analysts.
Despite enduring a barrage of negative press when investing over the past few years, the Bitcoin stack they have built is now positioned for significant gains as BTC approaches all-time high price levels.
Betting on Bitcoin
El Salvador has taken the bold step of integrating Bitcoin into the country’s economy under the leadership of an innovative government, but has faced a storm of criticism and suspicion from international observers.
President Nayib Bukele said the country’s investments in bitcoin, largely acquired during recent market weakness, could now yield returns. Profits exceeding 40%.
He also said that the “Bitcoin for Citizenship” program has become the country’s main source of BTC, demonstrating a unique model for leveraging digital assets to promote national development.
Despite the potential for significant profits, Bukele said the state has no plans to sell its holdings and views them as permanent reserves. He said:
“1 BTC = 1 BTC.”
profitable company
Likewise, South Korean gaming giant Nexon made headlines in April 2021 by purchasing 1,717 BTC for $100 million. This purchase signaled significant support for Bitcoin from the corporate sector at the time.
The company’s decision to invest in Bitcoin was met with skepticism. However, recent market trends have proven that the strategy is validated by the stocks it currently owns.back to black,” It means a positive return on investment.
Bitcoin maxi Samson Mow said the success story was a pivotal moment in corporate Bitcoin adoption, suggesting more businesses may consider adding the cryptocurrency to their financial strategies.
Meanwhile, Tahini’s, a UK-based restaurant chain known for its Middle Eastern cuisine, invested the company’s entire cash reserves in Bitcoin in 2020. It was said at the time that cash no longer had the same value after the government’s relentless printing. During the COVID-19 pandemic.
The company hit Bitcoin ATH of $69,000 before the start of the coldest cryptocurrency winter, marking most of its journey over the next two years.
tahini continued to buy Bitcoin has since maintained its cash reserves by sticking to an aggressive strategy throughout bear and bull market cycles. It recently announced that it had acquired a significant amount of Bitcoin in the past few weeks, worth CAD 85,500.
Silence of mainstream media
The silence of “analysts” and “journalists” who were previously critical of this success raises questions about the narrative surrounding cryptocurrency investments and the biases that may be influencing financial reporting.
Bukele has publicly criticized the lack of positive coverage in the mainstream media since his Bitcoin bet paid off. He said:
“They wrote literally thousands of articles about the losses we expected… But it is very telling that the authors of those hit pieces, the ‘analysts’, ‘experts’ and ‘journalists’ are now completely silent.”
El Salvador, Nexon, and Tahini’s experience with Bitcoin investment illustrates the broader picture of the risks and rewards associated with choosing Bitcoin as a primary reserve asset.
Despite considerable criticism and skepticism, their persistence and strategic investment in Bitcoin has put them in a position to realize potentially significant financial gains.