🚀 El Salvador's Bitcoin Investment Profits Are On the Rise
posted 9 Jan 2024
El Salvador's unrealized (or floating) gains from its Bitcoin acquisitions have surpassed $12 million. Currently, the average cost of all BTC purchased by the country stands at $42,441.
In the year 2021, El Salvador executed six Bitcoin purchases, followed by four in 2022, and none so far in 2023. Had President Nayib Bukele acted in the opposite order, the profits today would likely have been significantly higher.
This was their initial experience with a bear market, where buying during downturns takes skill and experience. Nonetheless, Bukele has admirably demonstrated his prowess in the crucial skill of HODLing.
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