Key Takeaways:
- El Salvador’s Bitcoin holdings, acquired for $270M, now have unrealized gains exceeding $333M as Bitcoin surpassed $100K.
- President Bukele shared portfolio details showing the country holds 6,180 BTC, with an average acquisition price of $44,739.
- Beyond profits, El Salvador’s Bitcoin adoption has spurred tourism growth, highlighting broader benefits of the strategy.
El Salvador’s unrealized Bitcoin gains have exceeded $300 million as Bitcoin’s price surged past $100,000, marking a historic milestone.
President Nayib Bukele celebrated the achievement by revealing the nation’s Bitcoin portfolio, which has grown significantly since Bitcoin was adopted as legal tender on September 7, 2021.
https://t.co/QVvFbQ7woa pic.twitter.com/WiOAYg6Ztx
— Nayib Bukele (@nayibbukele) December 5, 2024
The country has invested approximately $270 million in Bitcoin, acquiring 6,180 BTC at an average price of $44,739.88 per Bitcoin.
With the current price surge, the portfolio’s value has increased by 122%, translating to unrealized gains of over $333 million.
El Salvador pioneered Bitcoin adoption globally with its groundbreaking Bitcoin Law.
The government initially purchased 200 BTC in 2021 and later adopted a dollar-cost averaging (DCA) strategy, committing to buying one Bitcoin daily since November 2022.
This approach has helped expand the country’s holdings and strengthen its long-term strategy.
In addition to financial returns, El Salvador has experienced broader benefits from its Bitcoin initiative, including a significant increase in tourism driven by its innovative approach to cryptocurrency.
This success underscores the transformative potential of Bitcoin adoption, despite initial skepticism and criticism from international observers.
The milestone highlights El Salvador’s bold bet on Bitcoin as a central component of its economic strategy.
About The Author
Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.
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