Nayib Bukele: "El Salvador's profit from bitcoin is much higher than the stated figures"
Salvadoran President Nayib Bukele said that bitcoin reserves in his country may exceed estimates published in various media and analytical portals.
Nayib Bukele wrote on the social network X that El Salvador receives income from bitcoins from various sources, in addition to profits from purchased BTC, since the recognition of the first cryptocurrency as legal tender in the country in September 2021.
In particular, Bukele noted the income from BTC through the passport program. We are talking about the new emigration program "El Salvador Freedom Visa", which allows you to apply for a residence permit in the country and get a chance to acquire citizenship in exchange for $ 1 million in bitcoins or USDT. The President also noted the revenue from converting BTC into US dollars for local businesses, as well as from mining and government services related to bitcoin.
Bukele provided this information in response to a tweet by a Crypto Rover user, which indicated that the country had made a profit of $83 million from investments in bitcoin. The authorities of El Salvador have publicly announced some purchases of the first cryptocurrency. In November 2022, the president promised that El Salvador would buy one bitcoin daily, but further details were not disclosed.
According to the online resource Nayib Bukele Portfolio Tracker, El Salvador's reserves in bitcoins are estimated at more than $202 million. Stacy Herbert, who heads the State Office of Bitcoin, which was opened in November 2022, explained that El Salvador may have much more bitcoins than indicated in the service.
Source: https://bits.media/nayib-bukele-pribyl-salvadora-ot-bitkoina-gorazdo-bolshe-zayavlennykh-tsifr/
