El Salvador’s Bitcoin is launched under the leadership of President Nayib Bukele [BTC] properties have flourished. From the initial acquisition of 700 BTC, the country’s holdings rose to 2,798 coins in January, which now have a remarkable value of $130.5 million.
Amid this financial milestone, That of President Bukele This bold move attracted attention across the global financial landscape.
On X (earlier Twitter) he stated:
“Of course we don’t sell; ultimately 1 BTC = 1 BTC (this was true when the market price was low and it is true now).”
This proclamation marks a continuation of El Salvador’s strong stance since September 2021, when it attracted international attention by integrating Bitcoin into its national strategy.
El Salavdor’s unrealized gains amid skepticism
Unfortunately, some doubted El Salvador’s acquisition of Bitcoin, believing it to be an unprofitable venture.
In response to this criticism Bukele tweeted,
“When Bitcoin’s market price was low, they wrote literally thousands of articles about our alleged losses.”
The Central American country bought BTC in November 2022 at an average price of $42,440 per BTC. With the current Bitcoin price at around $61,000, Bukele reaffirms that the country has unrealized gains of around $40 million.
“Now that the market price of Bitcoin is much higher if we were to sell, we would make a profit of over 40% (on market purchases alone), and our main source of BTC is now our citizenship program.”
Snowden and MicroStrategy share a similar approach
Edward Snowdena whistleblower, said in a tweet on February 29:
“This year it will emerge that a national government purchased Bitcoin – the modern replacement for monetary gold – without publicly disclosing that fact.”
Moreover, MicroStrategy also recently revealed the benefits of its Bitcoin strategy, just like El Salvador. Led by Michael Saylor, the company has a portfolio of 193,000 BTC, valued at over $11.7 billion based on current market prices.
As in El Salvador, MicroStrategy has no plans to sell its BTC shares even as the cryptocurrency’s price approaches new all-time highs.
