El Salvador’s Bitcoin investment has generated nearly $300 million in unrealized profits as prices surge.
The country now holds 6,150 BTC, valued at over $433 million, after spending only $137 million on acquisitions.
In the last 24 hours alone, the portfolio has grown by nearly $100 million.
With Bitcoin trading at an all-time high, El Salvador is sitting on an unrealized profit of nearly $300 million from its Bitcoin investment strategy. Over the past two years, President Nayib Bukele has directed daily purchases of 722 BTC, acquiring them at an average price below $42,000.
El Salvador’s decision to invest in Bitcoin through regular daily purchases is yielding strong results as cryptocurrency prices continue to climb. President Bukele initiated this strategy on November 18, 2022, when Bitcoin was priced at around $51,769—one of its lowest levels in recent years.
This strategy forms part of Bukele’s broader vision to integrate Bitcoin into the country’s financial landscape following its adoption as legal tender in 2021. With Bitcoin now trading above $76,000, the value of El Salvador’s holdings has surged.
The timing of these purchases has been…
The post El Salvador’s Bitcoin Gamble Pays Off Big Time: Nets $100M Yield in 24 Hours appeared first on Coin Edition.
