El Salvador's investment in Bitcoin falls 8% in full rally, according to report
El Salvador's investment in the purchase of 3,120 BTC after enacting the Bitcoin Law at the end of 2021 continues to generate losses, despite the recent cryptocurrency rally. Recent data from the Nayib Bukele Portfolio Tracker showed that investment in the Central American country has fallen 8%.
The Bitcoin portfolio of El Salvador states that the acquisition price of BTC was $40,496. In addition, it shows that the Central American government invested 126 million dollars in institutional purchases and as of November 24, said investment is 118 million dollars.
El Salvador: Bitcoin Investment Points Towards Halving Profits
The purchases at the most affordable prices in El Salvador were on November 17, 2022, they were 372 BTC for 9.6 million dollars (when it cost less than 15,000 dollars) and on July 1, 2022, when it bought 80 BTC for 15 million Dollars. However, the most expensive purchase was at the end of 2021, when it acquired 420 cryptocurrencies at $60,345 ($25.3 million).
However, Bitcoin purchases made by El Salvador since 2022 (January 21, May 9, July 1 and November 18) are in gains, of 3.24%, 22.86%, 98.8% and 44.9%, respectively). Meanwhile, all purchases made in 2021 are at losses, as they range between 6.72% and 37.41%, respectively.
El Salvador's profits from Bitcoin purchases are concentrated in 2022 (compared to 2023) because the cryptocurrency was worth between $19,000 and $36,000 and currently, Bitcoin remains in a bullish rally, at a price of $37,700 on November 24 .
Read more: How has the adoption of Bitcoin (BTC) been in El Salvador?
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