Bitcoin trackers reveal Saylor and El Salvador both straight
A pair of bitcoin’s most vocal backers, MicroStrategy founder Michael Saylor and El Salvador president Nayib Bukele, are down a combined $1.75 billion on their well-publicized investments, according to two investment-tracking websites.
Figures published by saylortracker.com and nayibtracker.com show that Saylor, who bought 129,999 bitcoins at an average cost of $30,634, is down nearly $1.7 billion while Bukele, who bought more than 2,000 bitcoins at an average of 45,000 dollars, is out of almost 65 million dollars. . This represents a loss of 42.27% and 60.58% respectively.
Currently Saylor’s stash worth almost 2.3 billion dollarswhile Bukele sits on just over 42 million dollars in the currency.
The sites say their numbers come from social media and publicly available information, and that “where no average purchase price is known or implied, the average market price for that day is used.”
This means there is a margin of error when it comes to exact losses, but even with this in mind the numbers are intriguing.
Saylor and Bukele’s bitcoin hype appears to have failed
Known for his permanently bullish view on the world’s leading crypto, Saylor has made waves on numerous occasions for his sometimes strange statements.
In fact, he once called bitcoin “a bank in cyberspace, powered by indestructible software, offering a global, affordable, simple and secure savings account to billions of people who don’t have the ability or desire to run their own hedge fund.”
And if that sounds more optimistic than strange, he also once called bitcoin “a swarm of cyberhornets serving the goddess of wisdom” (our emphasis).
Read more: This tool suggests Bitcoin was the wrong bet for Michael Saylor
Bukele, on the other hand, has singled out the currency as his country’s future, “referring to El Salvador in a speech to the United Nations as ‘the land of surf, volcanoes, coffee, peace, bitcoin and freedom.’
The idea was that Bukele should kick-start the country’s economy, increase GDP and give the people their financial freedom by making bitcoin legal tender.
However, despite hyping bitcoin at every possible opportunity, Bukele and Saylor have been unable to halt the currency’s slide from the all-time high of nearly $69,000 it reached a year ago.
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