Bukele’s Bitcoin Strategy Pays Off: Reaps $333M Profit for El Salvador
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- El Salvador’s Bitcoin portfolio reaches $603M, yielding a $333M unrealized profit.
- Bitcoin surpasses $100K, contributing to a 117.7% portfolio growth this year.
- President Bukele celebrates the success, with Elon Musk praising the strategy as “impressive.”
El Salvador President Nayib Bukele is proudly celebrating the success of the country’s Bitcoin strategy, responding to critics as its Bitcoin reserve reaches an unprecedented valuation. This comes as Bitcoin finally surpasses the highly anticipated $100K mark.
In a post on X today, Bukele revealed specific details about El Salvador’s Bitcoin portfolio, showing that the country now holds $603.34 million in Bitcoin. Notably, El Salvador spent $269.74 million to acquire its Bitcoin reserve. Accordingly, the country is sitting on an unrealized profit of $333.60 million after holding the assets for three years.
A significant portion of these gains happened this year, with the portfolio growing by 117.7% since January. This closely aligns with Bitcoin’s year-to-date growth of 141%.
El Salvador’s Bitcoin Strategy Journey
When El Salvador first adopted Bitcoin in 2021, the country faced resistance. Cri…
The post Bukele’s Bitcoin Strategy Pays Off: Reaps $333M Profit for El Salvador appeared first on Coin Edition.
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