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?
Bad Bunny is launching a 21-date residency in Puerto Rico titled “No Me Quiero Ir De Aquí” (“I Don’t Want to Leave Here”), inspired by a lyric from his song “El Apagón”. The residency will be held at the Coliseo de Puerto Rico from July 11 to August 24, with concerts...
Neymar’s stint at Saudi Pro League club Al Hilal has been marked by limited playtime but massive earnings. After transferring from PSG in 2023 for $98 million, Neymar signed a two-year contract worth $100 million annually. Despite playing just seven matches, starting...
As we enter the new year, improving health often focuses on exercise, plant-based meals, sleep, stress reduction, and meaningful social connections. However, hydration—a simple yet powerful health habit—is often overlooked. Drinking enough water offers numerous...
As we enter the new year, improving health often focuses on exercise, plant-based meals, sleep, stress reduction, and meaningful social connections. However, hydration—a simple yet powerful health...
Prime Minister Justin Trudeau’s resignation as Liberal leader comes at a critical moment, just two weeks before Donald Trump begins his second term as U.S. president. Trump has threatened to impose...
Prime Minister Justin Trudeau announced his resignation as the leader of the Liberal Party of Canada, citing internal party battles and a desire to reduce political polarization. He will remain as...
0 Comments