Salvadoran President Nayib Bukele has recently shared the success of the country’s investments in Bitcoin on social media, as the cryptocurrency surpassed $100,000 for the first time. Bukele posted the country’s BTC holdings on X, after being asked to do so by a crypto-focused account.
The latest update reveals that El Salvador has invested around $270 million in Bitcoin since adopting it as legal tender in September 2021. The portfolio shows that no Bitcoin has been sold, and the unrealized gains now exceed $333 million.
El Salvador was the first country to officially recognize Bitcoin as a currency for financial exchanges. Since purchasing its first 200 BTC in September, the government has continued to acquire more through a daily dollar-cost averaging strategy announced by Bukele on November 17, 2022.
Currently, El Salvador holds 6,180 BTC, with an average purchase price of $44,739.88 per Bitcoin, resulting in a 122% gain based on current market prices according to Nayib Tracker, a platform dedicated to tracking the country’s Bitcoin investments.