El Salvador has received more than $65 million in unrealized profits amid the growth of bitcoin

On March 5, 2024, the bitcoin exchange rate broke the record price level and set a new ATH at $69,129 on the Coinbase exchange. Against the background of the price jump, El Salvador's investment portfolio has grown to more than $185 million.

According to the Nayibtracker portal, the country controls 2,855 BTC at an average purchase price of $42,548. Thus, investments in bitcoin brought El Salvador unrealized profits exceeding $65 million.

Recall that in December 2023, the bitcoin portfolio of El Salvador came out "plus" for the first time. Earlier, the country's president, Nayib Bukele, said that starting from November 18, 2022, the country will invest daily in the purchase of 1 BTC.

El Salvador legalized bitcoin as a means of payment in the fall of 2021. The decision has faced criticism, including from the International Monetary Fund (IMF).

In September 2022, the value of El Salvador's bitcoin portfolio decreased by 58%. Despite this, the country continued to actively invest in cryptocurrency.

In addition, local authorities have adopted several initiatives aimed at increasing the level of bitcoin acceptance. The country is ready to grant citizenship to individuals who invest $1 million in bitcoins or USDT in local projects. The government also approved the issue of bitcoin bonds.

Source: https://incrypted.com/salvador-poluchil-bolee-65-mln-nerealizovannoj-pribyli-na-fone-rosta-bitkoina/