“Cry harder”; Nayib Bukele hushes Peter Schiff as El Salvador celebrates Bitcoin returns

The ongoing crypto market rally has seen El Salvador’s Bitcoin profits jump by over 40%. Meanwhile, the country’s President Nayib Bukele celebrated the substantial profits on X, while confirming plans to hold for long.

Gold advocator and financial commentator Peter Schiff reacted to Bukele’s post, urging the president to comment on profits after selling the assets.

Meanwhile, the president attracted the crypto community's attention with the “cry harder” response to Peter Schiff.

Crypto enthusiasts praised El Salvador for its support for the industry and the decision to hold for long-term. Many condemned Schiff's negative stance against Bitcoin.

Moreover, the Salvadorian leader mocked those who criticized his decision to legalize crypto as legal tender.

Bukele stated that numerous articles flooded the internet scrutinizing El Salvador's losses when Bitcoin exhibited bearish actions. However, the country will realize over 40% returns if it sells at current BTC prices.

Despite the significant returns, the president emphasized that the country will not sell anytime soon, sticking with the 1 BTC = 1 BTC code.

Nayib Bukele has proven to be a revolutionary leader after legalizing the use of digital coins as money within the country. Citizens showed his support with the latest re-election.

Bitcoin price

BTC exhibits massive bullishness following its latest jump past the crucial $60K. The leading crypto traded at $62,767 during this publication, up 6% and 22% in the past day and week, respectively.

Spot BTC ETF approval has contributed to the current optimism in the crypto world. Analysts trust the asset class will see historical surges in 2024.

Crypto enthusiast Scott Melker, also Wolf of All Streets, forecasts massive uptrends to $240K for Bitcoin.

He trusts the upcoming halving event will drive the asset to astronomical heights, similar to the previous one, which pushed BTC from $20K to $69K.