El Salvador's Bitcoin Investment Portfolio Shows Over 40% Profit
El Salvador's holdings in Bitcoin are currently valued at over $147 million USD, marking a temporary profit of 40%.
El Salvador's Bitcoin Investment Portfolio Shows Over 40% Profit. Image: Coinlive
If El Salvador were to liquidate all its Bitcoin holdings today, the country would realize nearly $41.6 million USD in profit, equivalent to approximately 40%, according to a tweet shared by President Nayib Bukele on X (Twitter).
The re-elected president wrote in February:
"When Bitcoin's price plummeted, thousands mocked our supposed losses. Now, with Bitcoin surging, selling would yield over 40% profit. What's notable is the silence from those authors of those hit pieces, analysts, experts, journalists."
In the same post, Nayib Bukele reiterated that his country has no intention to sell its Bitcoin holdings.
When #Bitcoin’s market price was low, they wrote literally thousands of articles about our supposed losses.
— Nayib Bukele (@nayibbukele) February 28, 2024
Now that #Bitcoin’s market price is way up, if we were to sell, we would make a profit of over 40% (just from the market purchases), and our main source of BTC is now our…
The president also highlighted that the primary source of additional Bitcoin for the country is through its new citizenship program. As reported by Coin68, the Central American nation collaborates with Tether to offer fast-track citizenship to 1,000 individuals annually, provided they commit to investing $1 million USD in Bitcoin or USDT for the government.
El Salvador joined the Bitcoin race in September 2021, immediately becoming the first country in the world to recognize Bitcoin as legal tender. To date, the Central American nation has conducted 12 large-scale Bitcoin purchases. Since late 2022, El Salvador announced it would regularly purchase 1 BTC daily using a dollar-cost averaging (DCA) strategy.
Currently, El Salvador holds 2,849 Bitcoins, acquired at an average accumulation price of $42,504 USD. This investment portfolio officially entered profitable territory since December 2023 and has consistently recorded profits amid Bitcoin's exceptional growth trajectory. In the past 12 hours, Bitcoin has experienced a strong surge, temporarily reaching a new high for 2024 at $64,000 USD.
El Salvador's Bitcoin investment history. Source: Nayib Tracker (02/29/2024)
Beyond its positive signals from the investment portfolio, the country's bonds also saw a significant surge in the past year.
Alongside El Salvador, MicroStrategy also reported substantial gains, totaling up to $5.7 billion USD from its Bitcoin holdings.
