Nayib Bukele Announces El Salvador Bitcoin Profit Of $3.6 Million
- El Salvador’s Bitcoin investment has become profitable, recovering 100% of the investment and generating a $3.62 million USD profit.
- The government has no plans to sell its Bitcoin holdings and remains committed to a long-term strategy despite market fluctuations.
President Nayib Bukele recently announced El Salvador Bitcoin profit, recovering 100% of the investment and making a $3.62 million USD. No plans to sell.
El Salvador’s President Nayib Bukele announced that the country’s investment in Bitcoin has turned profitable. Despite previous reports of losses, the current market price of Bitcoin has allowed El Salvador to recover 100% of its investment and generate a profit of $3.62 million USD.
El Salvador's #Bitcoin investments are in the black!— Nayib Bukele (@nayibbukele) December 4, 2023
After literally thousands of articles and hit pieces that ridiculed our supposed losses, all of which were calculated based on #Bitcoin’s market price at the time…
With the current #Bitcoin market price, if we were to sell… pic.twitter.com/gvl2GfQMfb
President Bukele emphasized that the government has no intention of selling its Bitcoin holdings and is committed to a long-term strategy, understanding that the price will continue to fluctuate.
Nayib Bukele Announcing El Salvador Bitcoin Profit
He called for those who previously criticized the investment to retract their statements and acknowledge the country’s newfound profit. President Bukele urged journalists to report this new reality with the same intensity they reported the previous losses.
As of this writing, Bitcoin is trading at around $41,800 after hitting $42,000. The king of cryptocurreny has seen a surge of 6% over the last 24 hours, as shown by CoinMarketCap data. Previously, CoinCu reported that El Salvador President signs bill to encourage technology innovations by eliminating all taxes on income, property, and capital gains.
Last year, the Government of El Salvador created the new National Bitcoin Office (ONBTC) planning to manage all crypto projects.
ONBTC’s goal is to design, diagnose, plan, program, coordinate, follow up, measure, analyze and evaluate plans, programs and projects related to Bitcoin for the economic development of the country. The National Bitcoin Office also seeks collaboration with other countries in matters related to BTC.
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