{"id":14818,"date":"2024-02-29T18:44:25","date_gmt":"2024-02-29T18:44:25","guid":{"rendered":"https:\/\/www.cryptoheretostay.com\/?p=14818"},"modified":"2024-02-29T18:44:27","modified_gmt":"2024-02-29T18:44:27","slug":"el-salvador-and-pro-bitcoin-businesses-reaping-rewards-after-years-of-skepticism","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=14818","title":{"rendered":"El Salvador and pro-Bitcoin businesses reaping rewards after years of skepticism"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>El Salvador and several forward-thinking corporations, including Nexon and Tahini\u2019s, are witnessing substantial returns on their Bitcoin investments, challenging the wave of skepticism they faced from the media and financial analysts.<\/p>\n<p>Despite enduring a barrage of negative press when they made their investments over the last few years, the Bitcoin stacks they built up are now positioned to reap significant profits as BTC approaches its all-time high price levels.<\/p>\n<h2>Betting on Bitcoin<\/h2>\n<p>El Salvador, under the leadership of its innovative government, took a bold step by integrating Bitcoin into its national economy, facing a storm of criticism and doubt from international observers.<\/p>\n<p>President Nayib Bukele recently said that the country\u2019s investment in Bitcoin, primarily acquired when the market was bearish, could now yield a profit exceeding 40%.<\/p>\n<p>Additionally, he revealed that its \u201cBitcoin for citizenship\u201d program has become the primary source of BTC for the country \u2014 showcasing a unique model of leveraging digital assets to fuel national development.<\/p>\n<p>Despite the potential for substantial gains, Bukele said the country has no plans to sell its holdings and views it as a permanent reserve. He said:<\/p>\n<p>\u201c1 BTC = 1 BTC.\u201d<\/p>\n<h2>Corporations in the black<\/h2>\n<p>Similarly, South Korean gaming giant Nexon made headlines in April 2021 when it purchased 1,717 BTC for $100 million. The purchase marked a significant endorsement of Bitcoin from the corporate sector at the time.<\/p>\n<p>The company\u2019s decision to invest in Bitcoin was met with skepticism; however, recent market trends have vindicated its strategy, with its holdings now \u201cback in the black,\u201d signaling a positive return on investment.<\/p>\n<p>Bitcoin maxi Samson Mow said the success story is a pivotal moment for corporate Bitcoin adoption, suggesting that more companies might consider adding crypto to their treasury strategies.<\/p>\n<p>Meanwhile, UK-based Tahini\u2019s, a restaurant chain known for its Middle Eastern cuisine, put the entirety of the business\u2019s cash reserves in Bitcoin in 2020. It said at the time that cash no longer held the same value for it after governments\u2019 unbridled printing during the COVID-19 pandemic.<\/p>\n<p>The company documented most of its journey during the following two years, which culminated in the $69,000 ATH for Bitcoin before one of the coldest crypto winters set in.<\/p>\n<p>Tahini\u2019s has continued to buy Bitcoin with its cash reserves since then, throughout the bear and bull market cycles, staying true to its aggressive strategy. It recently announced that it scooped up a substantial amount of Bitcoin at CAD 85,500 over the past few weeks.<\/p>\n<h2>Mainstream media\u2019s silence<\/h2>\n<p>The silence from previously critical \u201canalysts\u201d and \u201cjournalists\u201d in the face of these successes raises questions about the narratives surrounding crypto investments and the biases that may influence financial reporting.<\/p>\n<p>Bukele has publicly denounced the mainstream media\u2019s lack of positive coverage now that its Bitcoin bet has paid off. He said:<\/p>\n<p>\u201cThey wrote literally thousands of articles about our supposed losses\u2026. but it\u2019s very telling that the authors of those hit pieces, the \u2018analysts\u2019, the \u2018experts,\u2019 the \u2018journalists,\u2019 are totally silent now.\u201d<\/p>\n<p>The experiences of El Salvador, Nexon, and Tahini\u2019s with Bitcoin investment illuminate a broader narrative about the risks and rewards associated with choosing Bitcoin as your underlying reserve asset.<\/p>\n<p>Despite facing significant criticism and doubt, their persistence and strategic investments in Bitcoin have positioned them to potentially realize significant financial gains.<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptoslate.com\/el-salvador-and-pro-bitcoin-businesses-reaping-rewards-after-years-of-skepticism\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>El Salvador and several forward-thinking corporations, including Nexon and Tahini\u2019s, are witnessing substantial returns on their Bitcoin investments, challenging the wave of skepticism they faced from the media and financial analysts. Despite enduring a barrage of negative press when they made their investments over the last few years, the Bitcoin stacks they built up are [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14819,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[3],"tags":[],"class_list":["post-14818","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/14818","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14818"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/14818\/revisions"}],"predecessor-version":[{"id":14820,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/14818\/revisions\/14820"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/14819"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14818"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14818"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14818"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}