El Salvador’s venture into Bitcoin has marked a significant milestone, with its holdings now valued over $150 million.
This comes after the country’s bold decision to adopt Bitcoin as legal tender in 2022, a move that has seen its investments grow substantially.
According to BitcoinTreasuries, the value of El Salvador’s Bitcoin stash has surged by $50 million beyond the initial purchase cost, illustrating a remarkable turnaround from previous market downturns to achieving historic financial highs.
Under President Nayib Bukele‘s directive, El Salvador has accumulated around 2,380 BTC, worth approximately $158.5 million, with the value peaking at $164.7 million in March, demonstrating a 53% profit margin from its cost basis of $44,300 per Bitcoin.
President Bukele, freshly reelected in February, has openly critiqued the mainstream media’s portrayal of El Salvador’s Bitcoin strategy on social platforms like X.
He pointed out the stark contrast in media coverage, highlighting the lack of attention now that the nation stands to gain significantly from its Bitcoin investments.
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Bukele emphasized the enduring value of Bitcoin, irrespective of market fluctuations, while mentioning the success of their citizenship program as a major source of Bitcoin revenue, stating a firm stance against selling the digital currency.
El Salvador’s adoption of the Bitcoin standard sets it apart on the global stage, with no other nation-states yet to follow its lead despite speculation about potential adopters in South America and beyond.
Samson Mow, a prominent figure in the Bitcoin community and head of Jan3, remains optimistic about future nation-state adoption alongside corporate and institutional investments.
During his appearance on The Bitcoin Podcast, Mow identified nation-states, corporations, and institutional investors as crucial players in driving Bitcoin’s value upward, alongside retail investors contributing through smaller purchases, signaling a broad-based confidence in Bitcoin’s long-term trajectory.
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