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El Salvador’s bitcoin reserves soar in value as cryptocurrency’s bullish surge continues

Bitcoin continues to solidify its position in the global economic landscape during a bullish period that seems to have no ceiling. On Monday at 10:39 a.m., it set a new record by reaching $107,054, bringing its market capitalization to $2.116 trillion, making it the seventh most valuable asset in the world and not far from overtaking Google.

It seems that time is proving right the institutions and countries that have incorporated Bitcoin into their financial strategy, making periodic acquisitions. For instance, the 5,965 coins in El Salvador’s reserve have surpassed $636 million in value due to the price increase, yielding a return of 137.58% and unrealized gains of $360 million. The country’s bet on the cryptocurrency has even had a positive impact on traditional markets. Just after Bitcoin surpassed $100,000 for the first time in early December, Bloomberg reported that Salvadoran bonds appreciated in value in response to the state’s benefits from the digital currency. “This is the first time in history that Bitcoin has driven sovereign bonds in traditional markets,” said President Nayib Bukele at the time.

On another note, MicroStrategy Inc., a business intelligence and data analytics software maker, was recently confirmed as a new member of the Nasdaq 100 index.

Being selected for the widely followed technology benchmark index is a milestone for MicroStrategy co-founder Michael Saylor, who has been leading a strategy of massive Bitcoin purchases since 2020.

According to Bloomberg, the company’s average gains of 40% over three consecutive months have raised its value to nearly $100 billion, meeting a key requirement to become a member.

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International

Protests erupt over Florida’s ‘Alligator Alcatraz’ migrant jail in the Everglades

Hundreds of environmentalists, Indigenous leaders, and activists gathered on Saturday to protest against the planned opening of a migrant detention center dubbed “Alligator Alcatraz,” which, according to Florida Governor Ron DeSantis, could begin operating as early as Tuesday and hold up to 3,000 migrants.

The protest took place amid active construction at the site, located in the Everglades Natural Park—an ecologically sensitive wetlands region west of Miami. Demonstrators raised concerns about the environmental impact on an area that is home to 36 native species of plants and animals that are threatened or endangered.

Protest signs read messages such as: “This scam will cost us $450 million and destroy our precious Everglades,”“Continuing with ‘Alligator Alcatraz’ is criminal,” and “These are concentration camps on Indigenous land.”

The backlash intensified after a televised segment aired the night before on Fox and Friends, where DeSantis toured the facility—built on an abandoned airport—and suggested the detention center could start receiving migrants as early as Tuesday.

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Internacionales

Jalisco’s grim discovery: drug cartel mass grave found in construction site

A mass grave was discovered in a residential area under construction in the municipality of Zapopan, part of the metropolitan area of Guadalajara, the capital of the Mexican state of Jalisco.

“After analyzing the recovered remains, they correspond to 34 individuals,” said a state official during a press conference. Jalisco has one of the highest numbers of missing persons in Mexico, largely due to the activity of drug cartels.

As of May 31, official data shows that Jalisco has recorded 15,683 missing persons, according to the state prosecutor’s office. Authorities attribute most of these cases to criminal organizations, which often bury or cremate their victims clandestinely.

“The construction company notified us at the end of February after discovering some remains,” explained the official, González, adding that excavation efforts have been ongoing since then.

The Jalisco New Generation Cartel (CJNG) operates in the region and was designated as a foreign terrorist organization earlier this year by the administration of U.S. President Donald Trump. Washington has accused CJNG and the Sinaloa cartel of being the main sources of fentanyl trafficking, a synthetic opioid responsible for tens of thousands of overdose deaths in the U.S.

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Mexico has accumulated more than 127,000 missing persons, most of them since 2006, when the federal government launched a heavily criticized military-led anti-drug offensive.

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International

U.S. targets families of sanctioned drug traffickers with new Visa restrictions

U.S. Secretary of State Marco Rubio announced on Thursday a new visa restriction policy targeting the family members and close associates of individuals sanctioned for drug trafficking, as part of efforts to combat the spread of fentanyl.

Overdoses from this synthetic opioid remain the leading cause of death among Americans aged 18 to 44. According to official sources, more than 220 overdose deaths are reported daily in 2024, and over 40% of Americans know someone who has died from opioid-related causes.

“Today, I am announcing a new visa restriction policy (…) which will apply to close family members and personal or business associates of individuals sanctioned for drug trafficking,” Rubio said in a statement.

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