El Salvador Bitcoin Investment in Profit as BTC Crosses $40,000 Mark
El Salvador President Nayib Bukele announced that the country’s Bitcoin investment is now profitable as the price of BTC surpassed $40,000 for the first time in almost two years. El Salvador began buying Bitcoin in September 2021 and currently holds a stash worth over $130 million.
El Salvador BTC Portfolio Sees Profit
According to President Nayib Bukele, El Salvador’s Bitcoin investment is “in the black,” with a net profit of $3.6 million following BTC’s recent price surge to over $42,000. Despite this profit, Bukele emphasized that El Salvador has no intention of selling and will maintain its long-term strategy despite BTC’s volatility.
Bukele Wants Naysayers to Acknowledge BTC Investment Gains
El Salvador’s decision to adopt Bitcoin as legal tender has faced criticism from global organizations like the International Monetary Fund (IMF) and US senators. However, Bukele has been defiant in response to critics, calling on them to acknowledge El Salvador’s current gains and retract their previous statements about losses.
Hot Take: El Salvador’s Bitcoin Investment Pays Off
El Salvador’s bold move to invest in Bitcoin is paying off as the country’s BTC portfolio is now profitable. Despite facing opposition and skepticism, President Nayib Bukele remains confident in the long-term strategy and has called on critics to recognize El Salvador’s success. This serves as a testament to the potential benefits of embracing cryptocurrencies at a national level.
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