El Salvador’s Bitcoin Bet Scores $3.6 Million in Profits, Confirms President Nayib Bukele. The investment is now in the black, boasting a 2.84% gain and a $131 million valuation. Bukele remains steadfast, emphasizing a long-term strategy amid future price fluctuations.
Having initiated the Bitcoin purchase during Bukele’s first presidential term, El Salvador initially invested $10.3 million. Despite a bear market in 2021 and 2022, the country’s commitment to Bitcoin persisted, with consistent dollar-cost averaging and additional purchases in 2022.
As a cryptocurrency trailblazer in South America, El Salvador made headlines in 2021 by becoming the first nation to embrace Bitcoin as legal tender. Now, the nation witnesses its BTC investment yielding profits. While widespread crypto adoption is still evolving, El Salvador aims to introduce Bitcoin education in state-run schools by the next year.