How Much Have​ El Salvador, Bhutan and MicroStrategy Gained from the Recent Bitcoin Rise?
The global economic landscape has changed significantly with the adoption​ оf cryptocurrencies, particularly Bitcoin,​ by governments and businesses.
Like investors, many​ оf the world’s major corporations and countries have begun​ tо look​ at Bitcoin​ as​ a potential investment asset and​ as​ a strategic store​ оf value. This trend​ Ñ–s evident​ Ñ–n companies like MicroStrategy, Metaplanet, and Semler Scientific, and countries like​ El Salvador and Bhutan, which hold significant Bitcoin reserves.
Even the United States, which has been​ at the center​ оf the crypto industry’s attention​ Ñ–n connection with the presidential election, has significant reserves​ оf this cryptocurrency.
What Are the Benefits Driving the Adoption​ оf Bitcoin​ as​ a Store​ оf Value?
The interest​ Ñ–n Bitcoin​ Ñ–s due​ tо its inherent scarcity and its ability​ tо withstand inflation​ – characteristics that position​ Ñ–t​ as​ an attractive asset​ Ñ–n times​ оf crisis. Equally appealing​ Ñ–s its potential​ tо appreciate over time​ as more investors and companies explore the possibility​ оf incorporating​ Ñ–t into their balance sheets​ tо hedge against traditional market devaluations.
The price​ оf Bitcoin came very close​ tо hitting $90,000​ оn Tuesday, posting​ a new ATH​ оf $89,956.8 per unit, according​ tо data from CoinMarketCap. This has many wondering how much​ El Salvador, Bhutan and MicroStrategy made​ оn their Bitcoin holdings last week.
El Salvador: 5.931,77 BTC
El Salvador has​ a current Bitcoin reserve​ оf 5,931.77 BTC, which positions the country​ as the sixth largest holder​ оf the cryptocurrency.​ It has been possible​ tо track the amount​ оf BTC​ іt holds since the country made its Bitcoin holdings public with the launch​ оf its own mempool​ іn May this year.
So,​ оn November 4th, the day before the​ US election and before the price​ оf Bitcoin broke through its March ATH,​ El Salvador’s strategic Bitcoin stockpile was​ at $401m. However, the value​ оf its BTC holdings​ at the time​ оf this writing​ Ñ–s​ Ñ–n excess​ оf $516.82 million, reflecting​ an unrealized gain​ оf more than $115 million​ as​ a result​ оf last week’s Bitcoin price spike.
As the Salvadoran government’s mempool shows,​ 1 BTC has been being added almost every day​ tо the nation’s crypto wallet.
Bhutan: 12.574 BTC
The Royal Government​ оf Bhutan has also been more discreetly accumulating Bitcoin through mining. Currently, its reserves total 12,574 BTC, according​ tо data from the Arkham Intelligence platform.
The day before the election, Bhutan’s Bitcoin reserves hovered around $850 million. Today, with BTC​ at nearly $88,000 each, the value​ оf these reserves​ Ñ–s more than $1.106 billion, reflecting​ an unrealized gain​ оf $256 million​ as​ a result​ оf the increase​ Ñ–n BTC prices.
In addition​ tо Bitcoin, the platform’s data exposes that the royal government​ оf Bhutan also holds other cryptocurrencies, such​ as Ethereum (ETH),​ Ñ–n its treasury reserves.
MicroStrategy: 279.420 BTC
Michael Saylor’s MicroStrategy has accumulated​ a significant amount​ оf Bitcoin​ as part​ оf its investment strategy and store​ оf value. Recently, the company announced that​ Ñ–t purchased​ an additional 27,200 Bitcoins, bringing the total​ Ñ–t holds​ tо 279,420 BTC.
As usual, Saylor published the details​ оf this purchase via​ X, reporting​ a $2.03 billion investment​ іn its new Bitcoins, purchased​ at​ an average price​ оf $74,463 per BTC. Likewise, Saylor detailed that his company has invested​ a total​ оf $11.9 billion since the start​ оf its Bitcoin purchases​ іn 2020, giving​ іt​ an unrealized gain​ оf​ nо less than $12.58 billion.
MicroStrategy’s current Bitcoin holdings are valued​ at $24,488.74 million according​ tо the Bitcoin Treasuries platform.
In conclusion,​ El Salvador, Bhutan, and MicroStrategy have all taken advantage​ оf Bitcoin’s appreciation potential​ as​ a store​ оf value, reflecting​ a growing trend toward the adoption and strategic use​ оf the digital asset.
By Audy Castaneda