In a recent post via his X account, Nayib Bukele, the President of El Salvador, disclosed that the country’s investment in Bitcoin has already generated profits exceeding $3 million. This impressive gain follows a recent surge in the price of Bitcoin over the past 24 hours, with the latest peak reaching $42,000 per BTC.
Over the course of 2022, Bukele has steadily been accumulating Bitcoin, even during periods of price decline. His average buying strategy also includes ensuring legal compliance by obtaining certification for Bitcoin as a valid form of debt payment.
Despite the profitable increase in Bitcoin’s price and the subsequent gains in their investment, Bukele has no plans to sell the Bitcoin holdings acquired. This decision is deliberate as short-term price volatility does not impact their long-term investment strategy.
TLDR: President Bukele of El Salvador shared that the country’s investment in Bitcoin has garnered profits of over $3 million. They have been steadily accumulating Bitcoin and obtaining legal certification for it as a form of debt payment. Despite the recent surge in Bitcoin’s price, they have no intentions of selling their holdings, as short-term price fluctuations do not affect their long-term investment plans. (97 words)
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