With the price of Bitcoin (BTC) once again rising above US$70,000, profits from Bitcoin held by the government of El Salvador are once again close to 70%, according to data presented on the Nayib Bukele Portfolio Tracker site.
the figure tracker They hold a record of government-announced purchases since late 2021, when Bukele announced his plans to acquire Bitcoin. The site indicates that, to date, El Salvador Bought 5,702 bitcoinsThe value, at the moment, is US$400.3 million and that has already Showed unrealized profit of US$ 79.5 million,
The purchases recording the highest percentage of unrealized profits include those that were made during periods of the greatest decline in BTC. This is approximately 80 Bitcoins that were acquired in July 2022 at an average of US$19,000 per unit, and now He made a profit of 240%,
Daily purchases made since November 2022 are also among those that have given the highest performance. With this strategy set to be implemented in November 2022, 497 Bitcoins have already been acquired, With a profit of 120% At the time of this writing.
As CryptoNoticias reported, this high level of profits will come in 2024 after a long period of unrealistic losses. This, even though investment recovery became evident in late 2023, when the cryptocurrency rose above US$42,000 per unit.
all shopping started showing the biggest profits Bitcoin reached a new all-time high once this month of March. A fact that prompted Bukele to comment on X, where he shared a meme alluding to that reaction Since Bitcoin’s meteoric rise, it has been waiting for its detractors.,
“I’m still waiting,” reads the Salvadoran presidential publication, where a human skeleton is seen looking at a computer to reference the long wait.
However, with the correction seen in the last two weeks, unrealized profits fell again, Although they have continued to report green numbers, That’s why rulers keep preaching to these experts To talk about the benefits that El Salvador is now experiencing Thanks to the rise of Bitcoin, as he talked about losses if BTC reaches US$16,000 in 2022.
In this sense, Bukele has drawn attention to the criticisms of his strategy with the digital currency. The President challenged politicians, analysts, journalists and experts who had questioned El Salvador’s investment in Bitcoin. keep quiet now,
Bitcoin purchase rejections have remained stable over a period of more than 1 year, when BTC went through a long crypto winter, During that time, El Salvador’s share was recording unrealistic losses, ranging between 11 and 50%.
Criticisms repeated, Both inside and outside El Salvador, Most of the questions focused not only on the losses incurred from purchasing cryptocurrencies, but also on the “lack of transparency in the acquisition of BTC.” The comments Bukele faced when revealing the address recently of the wallet in which the BTC are held Belonging to the Central American nation.
