Key Takeaways
- El Salvador's Bitcoin investment has grown from $135M to $400M.
- The country has seen over $265M in profit from its Bitcoin holdings.
- Bitcoin adoption has enhanced financial inclusion and attracted investment.
El Salvador’s bold decision to adopt Bitcoin as legal tender and a reserve asset has brought significant financial benefits, according to President Nayib Bukele.
The country has made a $265 million profit from its Bitcoin investments.
El Salvador initially invested $135 million in Bitcoin, which has now appreciated to $400 million.
Beyond government
President Bukele highlighted that this success has extended beyond the government, with Salvadorans who embraced Bitcoin also seeing substantial gains due to this year’s price increase.
The country’s Bitcoin holdings, currently at 5,856 BTC, have yielded an unrealized profit exceeding $50 million, driven by strategic investments during market downturns.
Bukele emphasized that Bitcoin adoption has also bolstered financial inclusion in the country, with many Salvadorans and major businesses now using the asset for transactions. Bukele stated:
You can go to a McDonald’s, a supermarket, or a hotel and pay with Bitcoin.
Bukele affirmed that the Bitcoin strategy has had no negative impact on the country.
Instead, it has attracted investments, increased tourism, and enhanced El Salvador’s global image.
He noted that Bitcoin’s influence is growing globally, as evidenced by major financial institutions like BlackRock getting involved, and its inclusion in debates within the U.S. presidential campaign.
