Max Kaiser, an advisor at Swan Bitcoin, explains why El Salvador is bullish on Bitcoin and discusses the potential impact of President Trump's inauguration on the “money making” of the crypto industry.
President-elect Donald Trump congratulated Bitcoin holders, and El Salvador's President Nayib Boucle celebrated the victory on social media after Bitcoin surpassed $100,000.
“Congratulations Bitcoiners!!! $100,000!!! Welcome!!! Together, we will make America great again!” President Trump declared on Truth Social.
Trump, who had positioned himself as a pro-cryptocurrency candidate in the 2024 election, announced earlier this year that his administration's policy, if elected, would be to sell all Bitcoin held by the United States and all Bitcoin acquired in the future. He pledged to maintain it.
“This will essentially become the core of the national Bitcoin Strategic Reserve,” President Trump declared in remarks at the 2024 Bitcoin Conference in Nashville.
Trump calls for US to become 'crypto capital of the planet' at Bitcoin conference in Nashville
Left: Republican presidential candidate and former President Donald Trump holds a campaign rally at PPG Paints Arena in Pittsburgh, Pennsylvania on November 4, 2024. Center: This photo illustration provides a visual representation of the digital cryptocurrency Bitcoin. (Left: Chip Somodevilla/Getty Images, Center: Dan Kitwood/Getty Images, Right: Thomas Cuesta/Getty Images)
El Salvador is accumulating cryptocurrencies and Bukele, an outspoken Bitcoin bull who has led the country's embrace of digital assets, is on a winning streak as Bitcoin soars to new heights.
He shared a screenshot of his portfolio of more than $603 million, appearing to show off the value of the country's Bitcoin holdings.
The tweet received a response from businessman Elon Musk, who said it was “amazing.”
In response to a post from an account called “Autism Capital” asking him to “post your portfolio again,” Bukele shared a screenshot of his massive portfolio and said, “It's time to attack the haters.” he added.
Bitcoin reaches $100,000 for the first time in history
El Salvador's Naib waves as he takes part in a wreath-laying ceremony in honor of Argentina's national hero, General Jose de San Martín, as part of his visit to Argentina, in Plaza San Martín in Buenos Aires, September 30, 2024. President Boucle. argen (Thomas Cuesta/Getty Images)
An X account called “Salvadoran Pride” posted a GIF of Hulk Hogan and wrote, “President Bukele asks Bitcoin haters what to say now.”
Bukele responded with an ear emoji.
Back in 2021, El Salvador became the first country to adopt Bitcoin as a legal tender.
El Salvador to keep dollar as legal tender, seeks World Bank support with Bitcoin
Bitcoin Foundation Chairman Brock Pierce talks about his visit to El Salvador to provide guidance and information to the country about making Bitcoin legal tender.
CLICK HERE TO GET FOX BUSINESS ON THE GO
The Central American country has been buying Bitcoin for years. “El Salvador just purchased its first 200 coins,” Bukele tweeted in 2021.
