El Salvador’s President Nayib Bukele has disclosed the country’s Bitcoin holdings, revealing an unrealized profit of approximately $357 million
El Salvador’s President Nayib Bukele has disclosed the country’s Bitcoin holdings, revealing an unrealized profit of approximately $357 million. The Central American nation initially invested around $287 million in Bitcoin, and the current value of its Bitcoin portfolio stands at over $644 million, marking a 124% increase. The Bitcoin investment has seen fluctuations, with a low of $25 million in 2022 and a high of $655 million. Despite constraints from the International Monetary Fund (IMF), El Salvador has continued to accumulate Bitcoin, maintaining its strategy of purchasing one Bitcoin daily. This move positions El Salvador as the first country to adopt Bitcoin as legal tender and highlights its ongoing commitment to cryptocurrency despite global market volatility.
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