El Salvador’s Bitcoin Investment now at 3.6 Million Profit

Bitcoin: Two Years Ago Today, El Salvador Adopted BTC As Legal Tender
Source: BuyUCoin

El Salvador’s Bitcoin Investment now sits at 3.6 Million in profit, according to President Nayib Bukele. The President reports that the investment is “in the black,” and shows a net profit of $3.6 million, for a total gain of 2.84% and a $131 million valuation.

“Of course, we have no intention of selling; that has never been our objective,” said Bukele on the X platform. “We are fully aware that the price will continue to fluctuate in the future; this doesn’t affect our long-term strategy.”

In Bukele’s first term as president, the Central American country purchased BTC via its national treasury. Its initial investment was worth $10.3 million. After a bear market for BTC from the end of 2021 throughout 2022, the Salvadoran president remained on the Bitcoin train, continuing to dollar-cost-average the country’s BTC investments and purchase more in 2022.

Also Read: Bitcoin: El Salvador Team to Visit Argentina To Discuss BTC Plans

El Salvador is one of the more forward-minded nations when it comes to cryptocurrency in South America. In 2021, El Salvador became the first country to adopt Bitcoin as legal tender, and now it is seeing its investment in BTC finally realize profit. Actual adoption of the top crypto is still sparse throughout the country. However, by next year, El Salvador plans to introduce Bitcoin education in state-run schools.