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El Salvador has earned more than $3 million on Bitcoin
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El Salvador has earned more than $3 million on Bitcoin

Dec 4, 2023

According to the statement by the President of El Salvador, the country does not plan to sell its digital assets in the near future. El Salvador's investments in Bitcoin (BTC) have fully paid off, and the unrealized profit exceeds the three million dollar threshold, as reported by the head of state, Nayib Bukele.

El Salvador's investments in Bitcoin are in the black! After, quite literally, thousands of articles ridiculing our presumed losses based on the market price of Bitcoin at that time. Considering the current price of Bitcoin, if we were to sell all our assets now, we would not only recover 100% of the invested funds but also earn $3,620,277.wrote the politician on the social media platform X (formerly Twitter).

According to the President's statement, El Salvador does not intend to liquidate its digital assets and plans to adhere to a "long-term strategic plan."

In September 2021, El Salvador declared Bitcoin as its official legal tender and began actively acquiring this cryptocurrency. Despite a significant drop in the price of Bitcoin, the government of this Central American country continued to stick to its strategy. In mid-November 2022, the President of El Salvador announced the country's intention to buy one Bitcoin daily.

President Nayib Bukele of El Salvador has been a long-time supporter of Bitcoin and actively promotes it in the country. Despite significant portions of the population expressing dissatisfaction with the government's decision to invest in cryptocurrency, Bukele continues to increase the country's positions in Bitcoin. Currently, the country holds 3,144 Bitcoins on its balance, which are approximately valued at $130 million.

Prominent publications such as The New York Times, The Washington Post, and El Pais have regularly criticized the policies of the Salvadoran authorities and expressed concerns about the country's possible bankruptcy due to difficulties in repaying external debt amounting to $800 million. They argued this was due to losses associated with investments in Bitcoin. In response to these allegations, Nayib Bukele denies the information presented in the articles and accuses these publications of spreading false information.

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