News

El Salvador Bitcoin Investment Reached Over $125M in Profits

Key Points:

  • El Salvador Bitcoin investment has reached over $125 million in profits, driven by Bitcoin’s surge to a record $84,000, marking a 91% return on investment.
  • The country, which adopted Bitcoin as legal tender in 2021, now holds 6,153 BTC, valued at approximately $482.6 million.
The El Salvador Bitcoin investment has finally borne fruit, as the nation’s investments blow past $125 million in profits with Bitcoin continuing a record-breaking rally.

Read more: El Salvador’s Bitcoin Certification Program for Officials

El Salvador Bitcoin Investment Makes $125 Million Profit Amid Market Rally

The feat underpins the attitude of the country toward cryptocurrency, which it started when it adopted Bitcoin as a legal tender in 2021, becoming the first country in the world to do so.

According to the Nayib Bukele Portfolio Tracker, the country holds 6,153 BTC, valued at 482.6 million dollars as of November 11. The returns have increased rapidly after Bitcoin’s recent all-time high price reached $84,000 on the back of post-election market optimism in the United States. El Salvador Bitcoin investment strategy, conceived by President Nayib Bukele, has seen an incredible 91% return on the nation’s Bitcoin holdings.

El Salvador has been conducting a dollar-cost-averaging investment strategy, buying one Bitcoin every day since November 2022 at an average price of less than $42,000.

MicroStrategy Increases Bitcoin Holdings with $2 Billion Investment

Along with El Salvador, US-based MicroStrategy, one of the biggest corporate investors in Bitcoin, announced yet another purchase of 27,200 BTC acquired between 31 October and 10 November. The firm paid more than $2 billion at an average price of $74,463 per coin.

MicroStrategy’s Bitcoin reserve jumped to 279,420 BTC. Its stock went into free-fall initially but rebounded close to 30% following the announcement of plans for a $42 billion raise in order to go further into crypto assets.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

DegenLayer Introduces The First Memecoin Focused Blockchain

Luxembourg, Luxembourg, 21st November 2024, Chainwire

2 hours ago

Nexon and Wemade Confirm No Plans to Profit from Bitcoin Holdings

Nexon and Wemade, clarified their stance on Bitcoin holdings, confirming they currently have no plans…

3 hours ago

Bitcoin Spot ETFs Hit $100B Milestone in Record 10 Months

The Bitcoin market is back in the news because the total net asset value of…

4 hours ago

Crypto Showdown: Why Qubetics, Hedera, and Stacks Are the Best Cryptos to Buy in November 2024

Explore why Qubetics, Hedera, and Stacks are the best cryptos to buy in November 2024.…

8 hours ago

This website uses cookies.