- El Salvador’s Bitcoin Investment Profits Exceed $3 Million, President Nayib Bukele Says.
- Nayib Bukele slams critics, especially journalists, who thought he would lose.
El Salvador’s President Nayib Bukele has announced on the X platform (formerly twitter) that the country’s Bitcoin investment has now generated a profit of over $3 million, following the cryptocurrency’s rebound to $42,000.
“With the current #Bitcoin market price, if we were to sell our #Bitcoin, we would not only recover 100% of our investment but also make a profit of $3 620 277.13 USD (as of this moment).”
Nayib Bukele also stated that El Salvador has no intention of selling its Bitcoin holdings and expects the price to continue fluctuating in the future. However, these fluctuations will not affect the country’s long-term strategy. He said,
“Of course, we have no intention of selling; that has never been our objective. We are fully aware that the price will continue to fluctuate in the future, this doesn’t affect our long-term strategy.”
El Salvador made headlines earlier this year when it became the first country to adopt Bitcoin as legal tender. The move was met with mixed reactions, with some praising the decision as a bold step towards financial innovation, while others criticized it as a risky gamble.
Despite the controversy, President Nayib Bukele has remained steadfast in his support for the cryptocurrency and its potential to benefit the nation’s economy.
He slammed all those who have been criticizing, opposing, and mocking his stance on adopting Bitcoin as the national currency. He referred to them as naysayers. He also advised those journalists who reported his loss to also report his gain.
El Salvador's #Bitcoin investments are in the black!
After literally thousands of articles and hit pieces that ridiculed our supposed losses, all of which were calculated based on #Bitcoin’s market price at the time…
— Nayib Bukele (@nayibbukele) December 4, 2023