El Salvador’s President Nayib Bukele is celebrating the growing success of the country’s Bitcoin strategy. The announcement comes as Bitcoin recently surpassed the highly anticipated $100,000 mark. In a post on X, Bukele updated El Salvador’s Bitcoin holdings, revealing that the nation now holds a reserve worth $603.34 million. This reserve was built with an investment of $269.74 million, meaning El Salvador is sitting on an unrealized profit of $333.60 million.
The growth of the Bitcoin portfolio has been impressive, with an increase of 117.7% since the beginning of the year. This rise aligns closely with Bitcoin’s year-to-date performance, which has surged by 141%. The country’s Bitcoin strategy, which initially faced criticism, is now showing its resilience, especially as the market moves into a bullish phase.
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El Salvador’s Bold Bitcoin Strategy Pays Off Despite Early Criticism
The country’s risk is profitable, especially considering Bitcoin reached an all-time high of $103,900, echoing the performance of El Salvador’s Bitcoin reserves just months ago. Not even highly regarded personalities such as Elon Musk have anything negative to say about the country’s system, with Musk referring to it as ‘impressive.’
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It was also recently noted that due to the robust growth of the BTC rate and reaching $105,000 per coin, the BTC market capitalization has exceeded the indicators of $2 trillion, occupying the seventh place in terms of value in the world.
In parallel, MicroStrategy, led by Michael Saylor, also continues to see strong growth in its Bitcoin portfolio. The company’s holdings are valued at $41 billion, following an investment of $23.48 billion in over 402,000 Bitcoins over the past four years. Saylor plans to host a “100K party to celebrate Bitcoin’s recent success.”
The recent Bitcoin rally and the success of El Salvador’s Bitcoin strategy highlight the growing acceptance and potential of cryptocurrency on a global scale. El Salvador’s Bitcoin reserve has positioned the country as a leader in adopting digital currencies as a national asset.
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Maxwell Mutuma
Maxwell is a crypto-economic analyst and Blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. He writes extensively on topics such as blockchain, cryptocurrency, tokens, and more for top publications such as Coingape, Coin Edition, and The Coin Republic. His goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.