{"id":52586,"date":"2023-12-04T18:20:09","date_gmt":"2023-12-04T18:20:09","guid":{"rendered":"https:\/\/prosfunds.com\/markets\/crypto\/el-salvadors-bitcoin-strategy-pays-off-with-3-6-million-profit-will-president-nayib-bukele-sell-btc-holdings\/"},"modified":"2023-12-04T18:20:12","modified_gmt":"2023-12-04T18:20:12","slug":"el-salvadors-bitcoin-strategy-pays-off-with-3-6-million-profit-will-president-nayib-bukele-sell-btc-holdings","status":"publish","type":"post","link":"https:\/\/prosfunds.com\/?p=52586","title":{"rendered":"El Salvador&#8217;s Bitcoin Strategy Pays Off with $3.6 Million Profit \u2013 Will President Nayib Bukele Sell BTC Holdings?"},"content":{"rendered":"<div>\n<figure id=\"attachment_139132\" aria-describedby=\"caption-attachment-139132\" style=\"width: 918px\" class=\"wp-caption alignnone\"><noscript><\/noscript><figcaption id=\"caption-attachment-139132\" class=\"wp-caption-text\">El Salvador Flag With BTC Tokens \/ Source: Adobe<\/figcaption><\/figure>\n<p>The Bitcoin (BTC) price, which briefly surpassed $42,000 on Monday for the first time since April 2022, has risen back above El Salvador\u2019s average purchase price, putting the emerging Central American nation\u2019s crypto bet back in the green.<\/p>\n<p>El Salvadorian President Nayib Bukele proclaimed via a tweet on X earlier on Monday that the nation\u2019s BTC \u201cinvestments are in the black!\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">El Salvador&#8217;s <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> investments are in the black!<\/p>\n<p>After literally thousands of articles and hit pieces that ridiculed our supposed losses, all of which were calculated based on <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a>\u2019s market price at the time\u2026<\/p>\n<p>With the current <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> market price, if we were to sell\u2026 <a rel=\"nofollow\" href=\"https:\/\/t.co\/gvl2GfQMfb\">pic.twitter.com\/gvl2GfQMfb<\/a><\/p>\n<p>\u2014 Nayib Bukele (@nayibbukele) <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/nayibbukele\/status\/1731653743668572498?ref_src=twsrc%5Etfw\">December 4, 2023<\/a><\/p>\n<\/blockquote>\n<p>Bukele hit back at the \u201cliterally thousands\u201d of articles that had been written about El Salvador\u2019s supposed paper losses on its BTC investments in the past, all of which had cited the current Bitcoin market price.<\/p>\n<p>He noted that at the current market price (in the mid-$41,000s at the time of his tweet), El Salvador is now sat on a tidy profit of $3.6 million.<\/p>\n<p>As per a screenshot shared by the president detailing the nation\u2019s BTC portfolio, El Salvador current owns around $130 million worth of BTC, having bought the cryptocurrency at an average price of $40,479 over the past two years.<\/p>\n<p>El Salvador is estimated to own around 2,750 BTC.<\/p>\n<h2><strong>Will President Nayib Bukele Sell BTC Holdings?<\/strong><\/h2>\n<p><span class=\"replacer\"><\/span><br \/>\u201cWe have no intention of selling\u2026 that has never been our objective\u201d Bukele was keen to emphasise.<\/p>\n<p>\u201cWe are fully aware that the price will continue to fluctuate in the future, this doesn\u2019t affect our long-term strategy\u201d.<\/p>\n<p>Bukele has long been an avid supporter of Bitcoin, introducing the cryptocurrency as legal tender in El Salvador in 2021 and offering technical support for Bitcoin integration into the country\u2019s economy.<\/p>\n<p>Bukele believes Bitcoin offers countries such as El Salvador a chance to escape from the dominance of the inflationary US dollar.<\/p>\n<p>Assuming the Bitcoin bull run continues, which seems likely as a dovish pivot in Fed policy seemingly nears and as institutional adoption optimism grows with spot Bitcoin ETFs expected to soon gain approval in the US, other South American nations such as Argentina may be eyeing making a similar Bitcoin bet.<\/p>\n<p>Libertarian Argentinian President-elect Javier Milei has promised to dismantle to country\u2019s central bank as the nation experiences triple-digit annual inflation, and is a known fan of Bitcoin.<\/p>\n<div class=\"newsletter home-newsletter single\">\n<div class=\"left-side\">\n<p>\n        <em><br \/>\n            Enter your email for our Free Daily Newsletter        <\/em>\n    <\/p>\n<p> A quick 3min read about today&#8217;s crypto news!<\/p>\n<p>    <span class=\"response-msg\" id=\"newsletter-response\"><\/span>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/el-salvadors-bitcoin-strategy-pays-off-with-3-6-million-profit-will-president-nayib-bukele-sell-btc-holdings.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>El Salvador Flag With BTC Tokens \/ Source: Adobe The Bitcoin (BTC) price, which briefly surpassed $42,000 on Monday for the first time since April 2022, has risen back above El Salvador\u2019s average purchase price, putting the emerging Central American nation\u2019s crypto bet back in the green. El Salvadorian President Nayib Bukele proclaimed via a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":52587,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[35],"tags":[],"class_list":{"0":"post-52586","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-crypto"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>El Salvador&#039;s Bitcoin Strategy Pays Off with $3.6 Million Profit \u2013 Will President Nayib Bukele Sell BTC Holdings? | Prosfunds<\/title>\n<meta name=\"description\" content=\"El Salvador Flag With BTC Tokens \/ Source: Adobe The Bitcoin (BTC) price, which briefly surpassed $42,000 on Monday for the first time since April 2022,\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/prosfunds.com\/?p=52586\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"El Salvador&#039;s Bitcoin Strategy Pays Off with $3.6 Million Profit \u2013 Will President Nayib Bukele Sell BTC Holdings? 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