- Midas Crypto
- Posts
- 🌙 'Panic Buying' Pushes BTC to $42k
🌙 'Panic Buying' Pushes BTC to $42k
The combined market value of cryptocurrencies is the highest since May 2022, when Terra's collapse marked the beginning of the crypto winter.
Mike Gavela
December 04, 2023
Crypto Roundup - Dec 4
The recent surge in Bitcoin's value to over $42,000 has significantly impacted various entities involved in cryptocurrency. Firstly, El Salvador's gamble on Bitcoin has turned profitable. President Nayib Bukele announced that the country's Bitcoin investment, now valued at around $131.4 million, has yielded a profit of approximately $4.1 million. Despite past losses, including a significant $7.79 million loss in October 2021, El Salvador remains committed to its long-term Bitcoin strategy, with no intention of selling its holdings.
Top Stories:
Bitcoin's Rally to $42,000: Bitcoin's recent surge above $42,000 has significantly impacted the cryptocurrency market, pushing the total market capitalization over $1.5 trillion.
El Salvador's Profitable Bitcoin Gamble: El Salvador's Bitcoin investment has become profitable, with a current value of about $131.4 million, netting a profit of approximately $4.1 million.
Commitment to Long-Term Strategy: Despite previous losses, El Salvador remains committed to its long-term Bitcoin strategy, opting not to sell its holdings.
TOGETHER WITH
THE NEURON
|
TOP STORIES
FUNDRAISES
🚀📣@Web3LabsClub proudly announces a strategic investment of over 💸$2M!💸Participating investors include: @ForesightVen, VCB Technology, @waterdripfund, @Cipholio, @NexGenVen, @QtumFoundation. Together, we're shaping the future of #Web3#investment#VC 💪
— Web3Labs.club🇭🇰🌍 (@Web3LabsClub)
2:09 AM • Dec 1, 2023
OTHER HEADLINES
CRYPTO TWITTER (X)
L2s make Ethereum *more fragile*. This becomes especially clear during a time of crisis
For example, consider an L2 liveness failure for an L2 (ORU or ZKR, doesn't matter) that has 20M users. The sequencer stops proposing blocks for some indeterminate period of time
Assume that… twitter.com/i/web/status/1…
— Integrated Kyle e/acc (@KyleSamani)
5:52 PM • Dec 4, 2023
The bitcoin ETF issuers are updating their applications so fast that you have to think they are all preparing for an approval at the same time that will kick off one of the most insane marketing blitzes in financial markets history as these large firms compete for billions in AUM
— Pomp 🌪 (@APompliano)
10:44 PM • Dec 4, 2023
ETH ETF showdown looks to be finalized in May right after the halving and (hopefully) post BTC ETF approval.
We are in for a big first half of 2024🔥
h/t @JSeyff
— Tom Dunleavy (@dunleavy89)
9:32 PM • Dec 4, 2023
SHARE!
Love our newsletter? Share it with your friends, family, colleagues, interns who need to stay on top of the crypto markets! Join over 85,000 investors and crypto degenerates who read Midas Crypto daily!