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<ul>
 <li>President Bukele defends Bitcoin gains amid market surge, criticizes past detractors.</li>
 <li>Peter Schiff challenges Bukele’s stance; Bukele responds with a resolute “Cry harder”.</li>
 <li>Crypto community lauds Bukele, Michael Saylor, supporting Bitcoin unwaveringly.</li>
</ul>
<p>In the midst of Bitcoin’s recent surge, <a href="https://cryptonewsland.com/el-salvadors-visionary-president-nayib-bukele-secures-reelection/" target="_blank" rel="noopener noreferrer nofollow">El Salvador’s President Nayib Bukele</a> took to social media to address the critics who previously scrutinized the country’s adoption of the cryptocurrency. Bukele pointed out the stark contrast in coverage between the times when Bitcoin’s market price was low and the current period, where it has seen a significant increase.</p>
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   <p lang="en" dir="ltr">When <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a>’s market price was low, they wrote literally thousands of articles about our supposed losses.<br><br>Now that <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a>’s market price is way up, if we were to sell, we would make a profit of over 40% (just from the market purchases), and our main source of BTC is now our…</p>— Nayib Bukele (@nayibbukele) <a href="https://twitter.com/nayibbukele/status/1762867369217532125?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 28, 2024</a>
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<p>The president highlighted that during the times of lower Bitcoin prices, numerous articles were published speculating on supposed losses incurred by El Salvador. Now, with Bitcoin’s market price on the rise, Bukele noted that the <a href="https://cryptonewsland.com/el-salvador-president-nayib-bukele-reveals-bitcoin-strategys-success/" target="_blank" rel="noopener noreferrer nofollow">potential profit</a> from selling Bitcoin, acquired through the country’s citizenship program, would be over 40%.</p>
<p>Despite this potential profit, Bukele asserted that El Salvador has no intention of selling, emphasizing the principle that “1 BTC = 1 BTC”. No doubt, the nation has seen the power of Bitcoin first-hand and intend to make the best of it long-term.</p>
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   <p lang="en" dir="ltr">Cry harder <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f618.png" alt="😘" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/t8oSk9WUjo" rel="noopener noreferrer nofollow">https://t.co/t8oSk9WUjo</a></p>— Nayib Bukele (@nayibbukele) <a href="https://twitter.com/nayibbukele/status/1762959980758548869?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 28, 2024</a>
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<p>In response to Bukele’s statement, notable gold advocate <a href="https://twitter.com/PeterSchiff?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor" target="_blank" rel="noopener noreferrer nofollow">Peter Schiff</a> chimed in, urging Bukele to discuss profits only after selling and realizing them. Unfazed by Schiff’s remark, Bukele responded with a succinct “Cry harder”, igniting a passionate reaction from the crypto community.</p>
<p>Crypto enthusiasts rallied behind Bukele, criticizing Schiff for his historical preference for gold over Bitcoin. Many praised Bukele and other crypto leaders, like <a href="https://twitter.com/saylor?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor" target="_blank" rel="noopener noreferrer nofollow">Michael Saylor</a>, for their steadfast commitment to Bitcoin and their decision to hold rather than sell.</p>
<p>The exchange between Bukele and Schiff serves as a testament to the ongoing debate between traditional financial assets and the growing influence of cryptocurrencies, with El Salvador continuing to be a focal point in the global crypto narrative.</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/bitcoin-hater-peter-schiff-co-launches-bitcoin-nft-art/" rel="noopener noreferrer nofollow">Bitcoin Hater Peter Schiff Co-Launches Bitcoin NFT Art</a></li>
 <li><a href="https://cryptonewsland.com/el-salvadors-visionary-president-nayib-bukele-secures-reelection/" rel="noopener noreferrer nofollow">El Salvador’s Visionary President Nayib Bukele Secures Reelection</a></li>
 <li><a href="https://cryptonewsland.com/el-salvadors-financial-analysis-by-nayib-bukele/" rel="noopener noreferrer nofollow">El Salvador`s financial analysis by Nayib Bukele</a></li>
 <li><a href="https://cryptonewsland.com/binance-to-increase-staff-in-el-salvador-after-bukeles-zero-tech-tax-bill/" rel="noopener noreferrer nofollow">Binance To Increase Staff in El Salvador After Bukele’s Zero Tech Tax Bill</a></li>
 <li><a href="https://cryptonewsland.com/el-salvador-president-nayib-bukele-reveals-bitcoin-strategys-success/" rel="noopener noreferrer nofollow">El Salvador President Nayib Bukele Reveals Bitcoin Strategy’s Success</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/el-salvadors-president-bukele-highlights-bitcoin-gains-amid-crypto-rally/" rel="noopener noreferrer nofollow">El Salvador’s President Bukele Highlights Bitcoin Gains Amid Crypto Rally</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

El Salvador’s President Bukele Highlights Bitcoin Gains Amid Crypto Rally

Crypto News Land

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