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<p class="is-style-lead">El Salvador bonds emerged as top gainers in emerging-market debt, fueled by Bitcoin’s surge past $100,000.</p> 
<p>Bitcoin’s (<a href="https://crypto.news/price/bitcoin/" target="_blank">BTC</a>) price movement catalyzed a rally for El Salvador bonds on Dec. 5, according to Bloomberg’s indicative pricing data for sovereign-issued debt due in 2035 and 2041. “This is the first time in history that Bitcoin has driven sovereign bonds up in traditional markets,” <a href="https://x.com/nayibbukele/status/1864765287305822604" target="_blank" rel="nofollow">wrote</a> El Salvador pro-BTC President Nayib Bukele via X in response to the news.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="in" dir="ltr">Hooah! <a rel="nofollow" href="https://t.co/B1y0cl8Kry" target="_blank">pic.twitter.com/B1y0cl8Kry</a></p>— Nayib Bukele (@nayibbukele) <a href="https://twitter.com/nayibbukele/status/1864742181677797584?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">December 5, 2024</a>
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<p>El Salvador’s $269.7 million Bitcoin accumulation strategy has generated $333.6 million in unrealized profits, leaving the country’s holdings valued at $603.3 million when Bitcoin peaked.</p> 
<p>Bitcoin fell below $100,000 at press time as long-term holders took profits amid anticipated market corrections. On-chain data <a href="https://crypto.news/bitcoin-hodlers-book-profits-post-100k-ath-report/" target="_blank">pointed</a> to investors booking four-fold profits.</p> 
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 <img loading="lazy" decoding="async" width="1113" height="653" src="https://crypto.news/app/uploads/2024/12/BTCUSDT_2024-12-05_22-12-35.png" alt="Bitcoin chart" class="wp-image-14316673">
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  24-hour BTC price chart – Dec. 5 | Source: <a href="https://crypto.news/price/bitcoin/" target="_blank">crypto.news</a>
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<p> You might also like: <a rel="" href="https://crypto.news/bitcoin-hodlers-book-profits-post-100k-ath-report/"> Bitcoin HODLers book profits post-$100k ATH: report </a> </p> 
<h2 class="wp-block-heading" id="bitcoin-closing-in-on-google">Bitcoin closing in on Google</h2> 
<p>Despite the dip, most of Bitcoin’s circulating supply remains off exchanges, with growing institutional demand tightening available liquidity. Kraken’s head of strategy, Thomas Perfumo, noted that supply dynamics would likely sustain upward price momentum.</p> 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 <p>Over 94% of all Bitcoin that will ever exist are already mined. The outstanding supply is growing at an annualized rate of about 0.8% and only trending downwards from here. BTC’s supply is known today, tomorrow, and into the future. There is only one logical conclusion when demand is this high: price action turns positive.</p> 
 <p>Thomas Perfumo, Kraken head of strategy</p> 
</blockquote> 
<p>Despite market euphoria and billions in capital inflows, skeptics like Peter Schiff and Charles Bobrinskoy of Ariel Investments maintained doubts about BTC.</p> 
<p>Bobrinskoy <a href="https://crypto.news/bitcoin-is-a-bubble-charles-bobrinskoy-warns-of-speculative-bitcoin-pump/" target="_blank">claimed</a> BTC is a “momentum-driven bubble” and a “get-rich-quick scheme” headed for an eventual decline. When Bobrinskoy made these remarks, BTC was the seventh-largest global asset behind only Google, Amazon, Microsoft, Nvidia, Apple, and Gold.</p> 
<p> Read more: <a rel="" href="https://crypto.news/bitcoin-breaks-100k-whats-next/"> Bitcoin breaks $100K: What’s next for Ethereum, altcoin season and key levels to watch </a> </p>

Bitcoin’s $100k break boosted bonds in El Salvador

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