Bitcoin

El Salvador Earns $54 Million Profit On Bitcoin Investment As Nation’s BTC Holdings Surge Past $159 Million

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Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

El Salvador president Nayib Bukele
El Salvador president Nayib Bukele

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El Salvador President Nayib Bukele’s bet on Bitcoin is looking good, with the nation’s investment soaring past $159 million and profits reaching almost $54 million.

El Salvador’s president announced in mid-November 2022 that the country’s government would purchase one BTC daily. It has since accumulated about 2,380 BTC at an average price of $44,300 that are worth about $159 million with BTC trading at $66,973 as of 10.57 a.m. EST. 

El Salvador President Hits Back At Critics

Bukele initially faced a backlash for his decision, but hit back hard last month after the king of cryptos surged.

“They wrote thousands of articles about our supposed losses,” when the crypto’s price was low, he tweeted. 

Bukele has said the nation has no intention of selling its BTC. The experts, analysts and journalists who wrote “hit pieces” criticizing the decision to purchase BTC are “totally silent now,” he said.

Bukele was recently re-elected for another five-year term as El Salvador’s president. 

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