🇸🇻 El Salvador Buys 420 More Bitcoins Seeing The Price Dip

If you enjoyed the newsletter, please share it with a friend who’d find it useful.

-Scott

Subscribe now

El Salvador Buys 420 More Bitcoins Seeing The Price Dip

El Salvador has purchased another 420 bitcoins to reap the reward of its recent price drop, the country’s president said in a Twitter post.

“It was a long wait, but worth it. We just bought the dip! 420 new #Bitcoin,” tweeted president Nayib Bukele.

An hour after his initial tweet, he further went on to say, “Hahaha we’re already making a profit off the bitcoin we just bought.”

The country has purchased a total of 1,100 of the coins since Bukele made the first purchase announcement on September 6.

El Salvador has already made bitcoin a legal tender alongside the dollar from September 7 which Bukele has argued will lower the cost of remittances from Salvadoran migrants living overseas.

Since then, the price of bitcoin has hit a record high as it reached past $66,000 this month and is up about 20% since September 7.

Samsung Reports Record Profits on Surging Chip Demand

Samsung Electronics reported its highest quarterly profits in three years as it reported total consolidated revenue of KRW 73.98 trillion, a 10% increase from a year ago.

The company’s third-quarter profits surged 26%, to a 3-year high, as rising chip prices, chip-making contracts, and sales of screen outpaced increased consumer electronics production costs.

The world’s biggest manufacturer of smartphones and chips said its operating profits increased to KRW 15.82 trillion (about $13.48 billion) in the July-September period.

As Samsung is the world’s largest maker of chips, high prices of chips mean high revenues for the company.

Samsung has also benefited from the surging demand for electronic products during the Covid-19 pandemic period.

Google’s “Material You” Will Make it Easy For Android Developers to Build Apps

Google’s new Pixel 6 lineup, which is launched alongside Android 12 brings a new look that Sameer Samat, Android VP of product management, called “the biggest design change in Android’s history.”

Basically, he referred to the Material You, which applies to a new set of principles for creating interfaces, in addition to changes that will help Android adjust to bigger screens.

At Google’s Android Developer Summit on October 28, the company said that “Material You” is available in Jetpack Compose, so app designers can more easily adapt the look in their own products.

Some new features in the design include dynamic guidelines that will help the app algorithmically respond and adjust to the user’s wallpaper selection, along with tips on how to maintain the individual branding of third-party apps while adapting.

Using the Material Theme Builder, developers can see how their apps will look in different situations.

The feature is available as a Figma plugin and on the web. Besides the look, Google also says that the new features for its Jetpack libraries will also help developers manage Android 12’s background restrictions, measure performance, and handle backwards compatibility.

Kebony Raises $34 Million in Funding Round Led by Jolt Capital And Lightrock

Kebony has raised $34 million in its latest funding round to make sustainable softwood behave like hardwood, using food waste.

The round was co-led by Jolt Capital and Lightrock, who were also joined by previous shareholders Goran, MVP, FPIM, PMV, and Investinor.

Kebony is an Oslo-based Norwegian company that produces superior quality wood and aims to be a leading wood brand and technology company.

Its technology permanently transforms sustainable wood species such as pine into Kebony wood, which is compatible and superior to those precious tropical hardwoods.

The company’s vision is to reduce CO2 emissions and tropical deforestation using its patented wood modification techniques, which produce superior wood in an environmentally friendly way.

Kebony has established strong year-on-year growth and will use the fresh proceeds to expand and scale in the core markets of Europe and the United States.

The capital will also help Kebony to further leverage the underlying trends of producing sustainable materials for the residential and non-residential construction industries.

Around The Web

📈 Spotify Anticipates to Have 400+ Million Users by Year-End: Popular audio streaming and media services provider, Spotify, expects to have more than 400 million active users by the year-end. The company currently has 172 million paid subscribers and 381 million monthly active users and has projected to reach the target of 400 million users by the end of 2021.

💰 India-Based Insurance Provider Acko Raises $255 Million: Acko General Insurance has raised $255 million in its Series D funding round, helping the company get the “unicorn” status with a valuation of $1.1 billion. The funding was co-led by General Atlantic and Multiples Private Equity and saw participation from other investors CPPIB and Lightspeed Growth, along with existing investors Intact Ventures and Munich Re Ventures.

Podcast

If you like the content in this newsletter, there’s a pretty good chance you’ll like my podcast, “Success Story”, where I unpack the playbooks of entrepreneurs, executives and other high performing individuals.

Check Out The Podcast

Latest Episode 👇

Newsletter & Podcast Sponsors

These sponsors make the newsletter & podcast possible. Check out their offers and show them some love.

1. Canva — Create Content & Design Anything (No Skill Required)

https://canva.me/successstory — Free 45 Day Canva Pro Trial

2. Better Help — Virtual Therapy & Mental Wellness

https://betterhelp.com/scottclary — 10% Off First Month

3. Uprising Food — Healthy & Delicious Low Carb Bread/Food

https://uprisingfood.com/successstory — $10 Off Starter Bundle

4. Nutrafol — Increase Hair Thickness & Volume

https://nutrafol.com/ (CODE: successstory) — $15 Off First Month

5. LeadFuze — Lead / Contact Database

bit.ly/2UWE7rz (Unlimited free lead database for cold emailing)

6. Manly Bands — Bands For Men

https://manlybands.com/successstory (21% Off)

7. Postie — Direct Mail for Digital Marketers.

https://postie.com/successstory (Free Demo)

8. Shopify — Ecommerce Tools

shopify.com/successstory,

9. LinkedIn — B2B Solutions & Networking

linkedin.com/successstory

10. TrueBill — Finds & Cancels Subscriptions

truebill.com/successstory

This installment of my newsletter covers all business, tech and finance. I send this email / post this daily.

If you enjoyed the newsletter, please share it with a friend who’d find it useful.

-Scott

Share ROI Overload

New podcasts & articles to your inbox.

No Spam. Promise.

Pin It on Pinterest

Skip to content