After the recent approval of the Bitcoin ETF by the SEC, more eyes are on the cryptocurrency now. US Senator Rand Paul cited that Bitcoin’s finite nature would be a great advantage against the unlimited nature of fiat currency. He also predicted that this asset could become the world’s reserve currency.
Early in 2016, his electoral campaign began accepting donations in BTC, turning him into the very first few government officials to declare support for this kind of asset.
El Salvador Now Owns 1120 BTC
In the past few days, the price of Bitcoin dropped from $67,000 to around $60,000. However, some celebrities and dignitaries have made profits from it. Nayib Bukele, the president of El Salvador, announced that his government has taken advantage of the recent decline of Bitcoin prices.
By adding 420 more Bitcoin in the fresh purchase, El Salvador owns a total of 1120 BTC now. As of press time, it’s worth about 67.2 million USD.
More Bitcoin ETF is coming
Following the ProShares Bitcoin Strategy Fund (BITO) began trading at the NYSE last week, Volt Equity became the latest company to debut such a product on the exchange. Oct 28, Crypto Industry Revolution and Tech ETF (BTCR) is available for trading at $21 on NYSE Arca. The ETF tracks not only crypto exchanges but also Bitcoin mining companies like Cannan, Bitfarms, and Riot Blockchain.
