Among today’s Bitcoin news, we cannot miss the result of El Salvador, which is earning over 74 million dollars with its holdings in BTC. The bitcoin-holding country has recorded a +60% unrealized profit on its BTC purchases.
Summary
Bitcoin News: El Salvador and the $74 million gain with its BTC holdings
El Salvador, the country with BTC as its legal currency, seems to be making a profit of over 74 million dollars with its holdings in bitcoin. In reality, these are unrealized profits from its investment in Bitcoin (BTC).
“BIG Breaking. EL SALVADOR HITS THE JACKPOT WITH #BITCOIN. EL SALVADOR HAS EARNED 74 MILLION DOLLARS ON ITS #BITCOIN HOLDINGS.”
On the chart of Nayib Bukele Portfolio Tracker, it is possible to notice how the BTC purchases made over time by El Salvador, are showing a positive trend, registering a gain of +60%.
At the time of writing, El Salvador is reported to own 2860 BTC worth 196.5 million dollars.
The current profit of 74 million dollars is more than five times the amount of 13 million dollars of profit recorded last January 2024, when the approval of Bitcoin spot ETFs was expected.
Bitcoin news: El Salvador’s profit with BTC price at its all-time high
Obviously, these achievements have been possible only thanks to the current bullish trend of the Bitcoin price.
El Salvador has made several purchases of BTC, at different prices. For example, on the chart, there are purchases of BTC at the lowest price of $36,000 in November 2022 and higher prices like that of $52,000 in September 2021.
At the time of writing, the price of BTC is $69,800, at its all-time high (ATH).
This means that any purchase made by El Salvador is in unrealized profit, even if in different percentages.
For example, for the purchase of November 2022, the estimated gain is +125% while for the purchase of September 2021 it is +30%.
The re-election of Nayib Bukele
Nayib Bukele, the President who made Bitcoin legal tender in El Salvador in September 2021, has won his reelection.
Already with the first polls showing how his Nuevas Ideas party was getting 87% of the votes, Bukele was preparing his followers to celebrate under the National Palace.
The official confirmation then arrived, formalizing Nayib Bukele’s second term as President of El Salvador.
