Dark Mode
Blogs
BARRIO (CoinDesk) – El Salvador is sitting on $12.6 million in unrealized profits on its bitcoin (BTC) investment after being in the red for two years.
The country started buying bitcoin in September 2021, paying between $47,250 and $52,670 for 700 BTC over the course of two weeks. President Nayib Bukele hailed the investment as being “back in the black” last month.
In November 2022, Bukele said El Salvador would purchase one bitcoin a day for the foreseeable future. Assuming it has done so, the country has since added 419 BTC to its stash, bringing the total to 2,798 bitcoin ($131.3 million).
Bitcoin has surged by 75% since October, buoyed by the impending approval of a spot bitcoin ETF in the U.S. The Securities and Exchange Commission (SEC) is expected to make a decision this week.
In 2021, El Salvador became the first nation to adopt bitcoin. There is speculation that Argentina will be next following the appointment of President Javier Milei as the country battles a wave of hyperinflation.
Did you like this article?
Did you like this article?
Toronto’s Latin music scene is about to turn up as Chencho Corleone takes the stage on March 6 at REBEL. Known as one of the architects of modern reggaeton, Chencho helped shape the genre as half of the iconic duo Plan B, delivering timeless hits that still dominate...
Daniel Noboa has announced a new phase in the country’s fight against drug trafficking, confirming that Ecuador will conduct joint security operations with the United States. The initiative comes as Ecuador faces a surge in violence linked to international drug...
When Bad Bunny was announced as the headliner for the Apple Music Super Bowl LX Halftime Show, debate followed immediately. Critics questioned the decision, supporters celebrated the cultural shift — and everyone waited for the numbers. Now, the global data is in....
Toronto’s Latin music scene is about to turn up as Chencho Corleone takes the stage on March 6 at REBEL. Known as one of the architects of modern reggaeton, Chencho helped shape the genre as half of...
Toronto is officially 100 days away from welcoming the world. The FIFA World Cup 2026 kicks off June 11 across Canada, the United States, and Mexico — with Toronto set to host six matches at BMO...
Canada’s women’s national team snapped a five-game international losing streak in style Sunday, defeating Colombia 4–1 in their opening match of the SheBelieves Cup. Vanessa Gilles opened the...
0 Comments