On November 19, 2025, El Salvador President Nayib Bukele announced the purchase of Bitcoin worth $100 million, boosting the country's holdings by 17% to a total of 7,474.37 BTC valued at $688 million. Bukele shared the update on social media, including an Instagram post with "Hooah!" and a screenshot from the Bitcoin Office dashboard. The buy occurred as Bitcoin dipped below $90,000 for the first time in seven months on November 18, 2025, amid a 30% crash from its 2025 peak and a 27% slide from last month's all-time high of $126,000. Gold has outperformed the cryptocurrency during this downturn.

This move aligns with El Salvador's June 2021 adoption of Bitcoin as legal tender, making it the first nation to do so; the Central African Republic followed nearly a year later, as the only other country with such a policy. Following the 2022 FTX collapse, when Bitcoin traded around $16,700, Bukele pledged to buy one BTC daily, a practice the country has maintained.

The International Monetary Fund (IMF) had urged El Salvador to scale back Bitcoin involvement for a $1.4 billion loan agreement, leading to voluntary acceptance of BTC payments and reduced support for the Chivo digital wallet. Bukele enjoys a 91% approval rating per Morning Consult, contrasting with India's PM Narendra Modi's 71%.

(178 words)

Bitcoin shares a universal language with math and chess, featuring clear, unchanging rules accessible regardless of one's native tongue. Just as 2 + 2 equals 4 in Kyoto or Kansas, a C major chord resonates identically worldwide, and a chess bishop moves diagonally everywhere, a Bitcoin transaction holds true for all observers, simultaneously and universally.

Bitcoin provides a transparent ledger that anyone can read and verify, eliminating the need for intermediaries like central banks, clearing houses, and interpreters required by fiat currencies. This enables two people anywhere on Earth to engage in direct, verifiable monetary exchanges in a shared "tongue." Unlike fiat systems, which foster distortion and demand blind belief, Bitcoin unites users through objective verification and insists on truth.

Canaan's shares surged nearly 21% on Tuesday, closing at $1.03, with after-hours gains extending to $1.05, following the Bitcoin mining hardware maker's report of third-quarter revenues doubling to $150.5 million, up 104% year-over-year. The increase was fueled by high demand for equipment, with mining hardware sales comprising $118.6 million. Chief Financial Officer James Jin Cheng noted substantial orders from U.S. clients, accounting for 31% of total revenue and signaling a strong North American market recovery.

Other miners also reported robust results: HIVE Digital announced a 285% earnings increase on Monday, while BitFuFu doubled its Q3 revenue, driven by demand for cloud mining and equipment as Bitcoin's price rises. Relatedly, TeraWulf's Q3 revenue grew 87% as Bitcoin nearly doubled over the year. Canaan itself generated $30 million in mining revenue, up 241% year-over-year, mining 267 Bitcoin at an average of $114,485 per coin, and boosting holdings to 1,610 BTC by October's end, despite a $27 million net loss versus $75 million last year. Shares are down nearly 50% year-to-date amid miners pivoting to AI due to rising mining costs and falling Bitcoin prices.

CEO Nangeng Zhang emphasized Bitcoin mining's viability during the AI transition, stating it's the best way to allocate energy and generate immediate revenue rather than waiting one to three years for AI infrastructure.

(178 words)