

El Salvador Reaps the Rewards of Its Bitcoin (BTC) Investment, Registers $203.10 Million in Unrealized Profits
The investment has registered significant profits, which have spiked following Bitcoin's new all-time high of $80,000, buoyed by the United States post-election rally.
El Salvador is reaping the rewards of its decision to invest strategically in Bitcoin (BTC) after declaring the digital asset a legal tender.
The investment has registered significant profits, which have spiked following Bitcoin’s new all-time high of $80,000, buoyed by the United States post-election rally.
As of November 10, the country was holding approximately 5,930.77 BTC, valued at around $471.18 million based on market rates as of press time, according to data retrieved by Finbold from El Salvador’s Bitcoin Office.
To this end, El Salvador’s Bitcoin holdings have generated an unrealized profit of about $203.10 million, representing a 75% gain on its investment. Most of the profits have been realized in 2024 with returns of $196.33 million or 71% year-to-date.
The government purchased its first Bitcoin on September 6, 2021, acquiring 400 BTC for $46,811 per coin. Since then, El Salvador has accumulated more Bitcoin with cumulative holdings purchased at an average price of around $45,223, reflecting a total investment of $268,08 million.
The most recent purchase was recorded on September 30, involving the acquisition of 492 BTC at $65,707 per coin. Among the purchases, the transaction completed on July 1, 2022, which involved 80 BTC, boasts the highest return rate for a single transaction at 325%.
It’s also worth noting that since November 2022, El Salvador has implemented a “1 Bitcoin per Day” program, purchasing 1 BTC daily regardless of the market value.
Moreover, El Salvador's Bitcoin holdings could be worth more, considering that authorities are also mining through various technologies, such as leveraging volcanic energy. In 2024 alone, the country has mined at least 470 Bitcoins.
Impact of El Salvador’s Bitcoin strategy
If the country realized profits from its Bitcoin investments, it would substantially boost the economy. However, this option is currently not viable, as President Nayib Bukele is promoting a ‘buy-and-hold’ strategy to establish the country as a crypto-friendly nation.
Meanwhile, the Bitcoin journey has not been without criticism. As reported by Finbold, the International Monetary Fund urged the country to scale down its cryptocurrency law, reduce public exposure to the asset, and implement more regulation.
From the onset, the IMF has been critical of the Bitcoin decision, warning of potential economic risks. This concern has been complicated further because a significant number of residents believe the Bitcoin strategy has failed.
Other countries with Bitcoin holdings
Overall, El Salvador is among the countries holding Bitcoin through strategic purchases. Recently, it was revealed that the small nation of Bhutan has been secretly accumulating the flagship digital asset, with its holdings now valued at approximately $1 billion.
Other countries also hold significant amounts of Bitcoin, often through seizures. The United States leads with Bitcoin valued at around $16 billion, mainly from the Silk Road seizure.
China ranks second with over $15 billion in holdings, while the United Kingdom holds nearly $5 billion. Ukraine also has substantial Bitcoin, primarily acquired through donations to aid in its conflict with Russia.
Although El Salvador’s Bitcoin accumulation is crucial to the asset’s overall growth, concerns remain about the potential impact on the broader crypto market if the country were to sell. Selling such a significant amount could indeed trigger substantial volatility.
Featured image via Shutterstock
The above is the detailed content of El Salvador Reaps the Rewards of Its Bitcoin (BTC) Investment, Registers $203.10 Million in Unrealized Profits. For more information, please follow other related articles on the PHP Chinese website!

Tether's gold-backed token, XAUT, has released its first official attestation, confirming it is backed by over 246500 ounces of gold

Sens. Adam Schiff (D-CA) and Elizabeth Warren (D-MA) said the dinner proved Trump may be engaging in “pay-to-play corruption.”

Crypto discussions are heating up again with Dogecoin (DOGE), Binance Coin (BNB), and BlockDAG (BDAG) taking different paths. The DOGE price is stuck just under $0.17

After facing a tough month with a 90% price dip, MANTRA has moved to stabilize its economy by initiating a major token burn.

In the ever-changing world of cryptocurrency, investors are constantly on the lookout for the next big opportunity. While XRP has long been a favorite

Tether, the company behind several leading cryptocurrency stablecoins, including USDT, announced Wednesday that it holds $770 million in physical gold bullion reserves backing its Tether Gold (XAUT) stablecoin.

Toncoin gained 4% after Telegram founder Pavel Durov's return and a $400 million funding wave for TON's ecosystem.

Hot AI Tools

Undresser.AI Undress
AI-powered app for creating realistic nude photos

AI Clothes Remover
Online AI tool for removing clothes from photos.

Undress AI Tool
Undress images for free

Clothoff.io
AI clothes remover

Video Face Swap
Swap faces in any video effortlessly with our completely free AI face swap tool!

Hot Article

Hot Tools

Atom editor mac version download
The most popular open source editor

DVWA
Damn Vulnerable Web App (DVWA) is a PHP/MySQL web application that is very vulnerable. Its main goals are to be an aid for security professionals to test their skills and tools in a legal environment, to help web developers better understand the process of securing web applications, and to help teachers/students teach/learn in a classroom environment Web application security. The goal of DVWA is to practice some of the most common web vulnerabilities through a simple and straightforward interface, with varying degrees of difficulty. Please note that this software

VSCode Windows 64-bit Download
A free and powerful IDE editor launched by Microsoft

MantisBT
Mantis is an easy-to-deploy web-based defect tracking tool designed to aid in product defect tracking. It requires PHP, MySQL and a web server. Check out our demo and hosting services.

Zend Studio 13.0.1
Powerful PHP integrated development environment
