How Much Profit Did El Salvador Make from Its Bitcoin Investment?

El Salvador’s Bitcoin holdings have surpassed $150 million in value, with profits reaching over $50 million as Bitcoin reaches its all-time high. This bold move was made by President Nayib Bukele, making El Salvador the first country to recognize Bitcoin as legal tender in 2021. The government has been purchasing 1 BTC per day, resulting in a total of approximately 2,380 BTC valued at $158.5 million.
During Bitcoin’s recent brief all-time high on March 5, its value reached $164.7 million, which is 53% higher than El Salvador’s initial investment.
President Bukele recently used a popular Mr. Bean meme to criticize the mainstream international media for not acknowledging the country’s Bitcoin gains due to its debt structure. He stated that while the media focused on the country’s losses when Bitcoin’s market price was low, they are now ignoring the significant profits of over 40% that El Salvador would make if they were to sell. The president also highlighted that the country’s main source of BTC is now its citizenship program.
Despite criticisms from organizations like the World Bank and IMF, President Bukele remains optimistic about the potential of cryptocurrencies. In November 2022, during the crypto winter, El Salvador faced criticism along with Microstrategy as Bitcoin’s price plunged to $15,000. However, Bukele has always believed in the potential of cryptocurrencies and has been actively exploring investment opportunities in Bitcoin.
Although El Salvador remains isolated and differs from other nation-states by adopting a “Bitcoin standard,” no official announcements have been made regarding other countries following suit, even though some South American countries have shown similar interest.
Tags: Bitcoin, Crypto Regulations