Financial Digest

First Mover Americas: El Salvador Holds More BTC Than Expected

  • 📰 CoinDesk
  • ⏱ Reading Time:
  • 41 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 63%

Finance Finance Headlines News

Finance Finance Latest News,Finance Finance Headlines

Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.

Bitcoin fell to as low as $66,800 on Friday, dropping 8% in 24 hours after soaring above $70,000 earlier in the week.shows that over $100 million in long positions were wiped out over 12 hours, and $167 million in longs liquidated in 24 hours. Other assets like gold and Wall Street's tech-heavy indexalso came under pressure this week. Some analysts described BTC's pullback from record highs as a typical bull breather seen after sharp rallies.

Bukele referred to the new setup as"our first #Bitcoin piggy bank." El Salvador stored the cold wallet"in a physical vault within our national territory," he said, including a photo of a wallet that held 5,689.68 BTC, worth $411 million at Thursday's prices. A bitcoin treasury of that size places El Salvador's holdings far higher than previously thought. Even on Thursday, public trackers placed the nation's trove at less than 3,000 BTC .

Galaxy Digital should be a core holding for equity investors looking to gain exposure to the digital asset ecosystem, investment bank Stifel on Wednesday. Stifel resumed coverage of Michael Novogratz’s crypto financial services firm with a buy rating and a price target of C$20. Galaxy closed 4.7% lower on Thursday at C$13.11.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 291. in FİNANCE

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

First Mover Americas: Bullish Week for Bitcoin and VeChainLyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.
Source: CoinDesk - 🏆 291. / 63 Read more »

First Mover Americas: All Eyes on EtherLyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.
Source: CoinDesk - 🏆 291. / 63 Read more »

First Mover Americas: Worldcoin, The Graph and Filecoin Finish the Week on TopLyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.
Source: CoinDesk - 🏆 291. / 63 Read more »

First Mover Americas: Ether Approaches $4KLyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.
Source: CoinDesk - 🏆 291. / 63 Read more »

First Mover Americas: Bitcoin Surpasses $71K, Reaches All-Time HighLyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.
Source: CoinDesk - 🏆 291. / 63 Read more »