El Salvador President Shares Bitcoin Success As Country’s Portfolio Soars Past $600 Million
El Salvador's President Nayib Bukele recently shared the country's Bitcoin portfolio, showing impressive gains worth over $600 million.
El Salvador President Nayib Bukele has revealed that the country’s Bitcoin holdings have surpassed $600 million in value. Bukele shared a screenshot on X, showing the country’s dramatic surge in Bitcoin portfolio, coinciding with cryptocurrency surpassing the $100,000 mark for the first time.
Bitcoin is currently valued at $103,465.81. The surge came after Donald Trump’s recent election victory in the US. The President-elect recently announced his plans to appoint a cryptocurrency advocate, Paul Atkins, to head the Securities and Exchange Commission. This sparked excitement in the crypto market, leading to Bitcoin’s remarkable rally.
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El Salvador had initially invested around $269.7 million in Bitcoin and now with a current value of approximately $603 million, the Central American country has made an unrealised profit of more than $333 million. According to the data from Arkham Intelligence, El Salvador currently owns nearly 6,000 bitcoins.
https://t.co/QVvFbQ7woa pic.twitter.com/WiOAYg6Ztx— Nayib Bukele (@nayibbukele) December 5, 2024
Elon Musk, a strong supporter of cryptocurrency, responded to Bukele’s post and wrote, “Impressive."
Impressive— Elon Musk (@elonmusk) December 5, 2024
Social media users also jumped in, sharing their thoughts and praising Bukele for El Salvador’s Bitcoin success.
One user commented, “Nayib – you not only believed early, but you had the courage to take action on behalf of your country. Congratulations. You will never get the credit you deserve, but you are an important part of the story."
Nayib – you not only believed early, but you had the courage to take action on behalf of your country. Congratulations. You will never get the credit you deserve, but you are an important part of the story.
— Anthony Pompliano ? (@APompliano) December 5, 2024
Another said, “It is only a matter of time before more nations follow suit after this successful wager."
#ÚltimaHora | ? “Sabemos que cuando ayudamos las bendiciones para nuestro país se multiplican", Presidente @nayibbukele. pic.twitter.com/ZC7yG9Hxdl— Última Hora (@ultimahsv) December 5, 2024
“Presidents flexing their nation’s BTC stack on the internet is wild," someone else remarked.
Presidents flexing their nations BTC stack on the internet is wild— Salvation ⚡️ (@btcSalvation) December 5, 2024
“Your name will go down in the history books as the man who saved his country by embracing a new technology," a person shared.
Your name will go down in the history books as the man who saved his country by embracing a new technology.— Prince “Heat" Inferno (@PrinceHeat44402) December 5, 2024
“This is like “If I get rich from Crypto, I won’t tell anyone, but there will be signs," another quipped.
This is like "If I get rich from Crypto, I won't tell anyone, but there will be signs."??— SMX ?? (@iam_smx) December 5, 2024
El Salvador has been firm in its support of Bitcoin, making it a legal tender in mid-2021 when the cryptocurrency was priced around $36,000. This decision set the country apart as only a few nations in the world have taken such a step. Even though international financial groups like the International Monetary Fund (IMF) warned against it, President Bukele’s government has kept buying and holding Bitcoin ever since.
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