🤩El Salvador's Bitcoin profits exceed 300 million USD
President Nayib Bukele revealed that El Salvador has spent approximately 270 million USD to purchase 6,180 BTC, with an average purchase price of 44,739 USD/BTC, yielding a profit of 122%.
The country's investment has generated unrealized gains of over 333 million USD as Bitcoin reached 100,000 USD.
El Salvador is the first country to accept Bitcoin as legal tender, with the Bitcoin Law taking effect on September 7, 2021. The government began purchasing BTC in September 2021 and implemented a dollar-cost averaging (DCA) strategy starting in November 2022, committing to buy one BTC each day.
In addition to financial gains, the acceptance of Bitcoin has also boosted El Salvador's tourism sector. However, the International Monetary Fund (IMF) has continuously urged the country to abandon or narrow its Bitcoin policy, arguing that it could pose risks to financial stability.
The President of El Salvador has proven that the decision to invest in BTC was wise, bringing tremendous profits to his country.
