Home Economy Bitcoin generates more than $3.5 million in profits for El Salvador
Thanks to President Nayib Bukele’s economic strategies, the recent rise in the value of Bitcoin against the dollar has generated a profit of up to $4.14 million for El Salvador’s investments.
During the last days of November and the first days of December, the cryptocurrency began to rise in relation to fiat currencies (or by decree, traditional ones) and exceeded $41,000 per unit in the market. This change in its value favored the securities portfolio managed by the Salvadoran State. With an estimated $131.41 million placed in bitcoin, said portfolio recorded a profit that ranged between $3.5 million and $4.4 million, according to the Nayib Bukele Porftolio Tracker website.
These profits will be used by the current Government, with the aim of benefiting the Salvadoran population with works, projects and improvements in their well-being.
El Salvador’s #Bitcoin investments are in the black!
After literally thousands of articles and hit pieces that ridiculed our supposed losses, all of which were calculated based on #Bitcoin’s market price at the time…
— Nayib Bukele (@nayibbukele) December 4, 2023
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